{"id":3120,"date":"2020-01-09T13:00:15","date_gmt":"2020-01-09T13:00:15","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/09\/hdfc-bank-launches-service-for-religious-bodies-societies-and-clubs\/"},"modified":"2020-01-09T13:00:15","modified_gmt":"2020-01-09T13:00:15","slug":"hdfc-bank-launches-service-for-religious-bodies-societies-and-clubs","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/09\/hdfc-bank-launches-service-for-religious-bodies-societies-and-clubs\/","title":{"rendered":"HDFC Bank launches service for religious bodies, societies and clubs"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small.jpg\" alt=\"HDFC Bank, HDFC Bank app, HDFC new app, HDFC bank app for religious bodies, hdfc bank app for societies\" width=\"660\" height=\"440\" class=\"lazy lazy-hidden size-full wp-image-1814349\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small.jpg\" alt=\"HDFC Bank, HDFC Bank app, HDFC new app, HDFC bank app for religious bodies, hdfc bank app for societies\" width=\"660\" height=\"440\" class=\"size-full wp-image-1814349\" srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/hdfc-bank-reuters-small-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The bank said there are over 30 lakh institutions, which is an addressable opportunity. (Image: Reuters)<\/span><\/figure>\n<\/div>\n<p>With an aim to grow institutional business, India\u2019s largest private sector lender <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/hdfc-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">HDFC Bank<\/a> on Thursday launched a value-added service for religious bodies, societies, clubs and cities. The institutions will get a customised mobile application powered by the lender through which users will be able to pay donations, settle utility bills and make other payments.<\/p>\n<p>The bank said there are over 30 lakh institutions, which is an addressable opportunity. It can be noted that banks target any business opportunity that gives them what is termed as the \u2018float business\u2019, by giving them access to large amount of low-cost funds through a single tie-up like a corporate salary account relationship. The institutions will be having either a savings, current or escrow account with the bank.<\/p>\n<p>HDFC Bank Country Head (Government and Institutional Business) Smita Bhagat said it will give access to transaction fees also and added that through this, it is looking to grow its share in the institutional business. She said institutions will be on-board within four weeks, and will have to pay for the app customisation, for hosting charges and also an annual maintenance fees.<\/p>\n<p>The end users who download the app to transact will not have to pay any extra charges, she said. The bank already serves many of those it is targeting under the new business and it was feedback from them which set it off working on the service a few months ago.<\/p>\n<p>Bhagat did not spell out the bank\u2019s targets and also exuded confidence that recent events around difficulties in accessing the accounts online faced by users will not hurt it. Allaying concerns on privacy, she made it clear that HDFC Bank will not have any access to data or the users in the app, which will carry the individual institution\u2019s name. <\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The bank said there are over 30 lakh institutions, which is an addressable opportunity. (Image: Reuters) With an aim to grow institutional business, India\u2019s largest private sector lender HDFC Bank on Thursday launched a value-added service for religious bodies, societies, clubs and cities. The institutions will get a customised mobile application powered by the [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":3121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=3120"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/3121"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=3120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=3120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=3120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}