HDFC Bank has joined hands with Vodafone India to launch the HDFC Bank MobileBank Account with Vodafone m-paisa facility.
The initiative was launched by Dr. K.C. Chakrabarty, deputy governor, the Reserve Bank of India, Aditya Puri, managing director, HDFC Bank and Sunil Sood, director, business operations, Vodafone Essar.
HDFC Bank has appointed a Vodafone India subsidiary company as a corporate business correspondent, thereby allowing select retailers of the operator to represent the bank as sub-agents. Through this arrangement, customers can perform basic banking transactions on the mobile phone and even deposit and withdraw cash, at appointed Vodafone m-paisa outlets, without having to go to bank branches.
