HDFC Bank launched a digital bank for its SME customers with the aim of growing its market share in the hinterlands. Aseem Dhru, head, Business Banking of the bank, said the digital bank takes away the hassle of physical availability of a relationship manager and makes banking process faster. The service should take off in a much better way in smaller towns and the hinterlands, as it will save time and manpower, he added. The bank has been recently focusing on corporate portfolio even as it has a major retail business. The bank has managed to cross the Rs 1 lakh crore mark in its corporate book for the first time in 2016, more than double the Rs 47,000 crore three years ago. However, on the business banking side, the bank had seen some pressure on asset quality and had checked the growth in the last few quarters. Dhru said at the end of December 2015, lending to SME sector has seen de-growth by 5% but the bank has grown its SME lending by 29%.
