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Vashi2Panvel.com: Navi Mumbai: November 26: The country’s leading bank and financing institution has decided to enter the small and medium scale business sector and open up finances for the agro and food processing sectors. This appears to be a direct spin-off of the fact that bigger corporates are now opting for equity financing and bank finance seems to be the second option. Moreover even with bank financing, the interest rates determined are not working to the benefit of the banks.

With the opening up of the agro and food processing sectors, the bank hopes to increase its customer base. Businesses like restaurants, dispensaries, drycleaners are bound to increase in developing areas and it is this vision in mind that has prompted the bank to open branches specially catering to this sector. Though HDFC has a huge presence in Vashi, a bank in Nerul and several ATMs peppered across the satellite city, this particular branch is being opened in the mandi area specially to cater to the small scale industry sector.

V2P Correspondent