HDFC Bank signs an MoU with Bihar State Power Holding Co.

  • Enables residents to pay electricity bill online
  • First of its kind initiative to enable quick and easy payment of fees through HDFC Bank’s RTGS, NEFT & Fund Transfer

Patna (Bihar): HDFC Bank has signed an MoU with Bihar State Power Holding Company to enable payment gateway for the residents of Bihar. The MoU will enable residents of the state to pay Electricity Bills online in a quick and convenient manner, by any debit card, credit card, or net banking facility, from the comfort of their homes or offices.The initiative will benefit over 6 crore people in the state. Bihar State Power Holding Company generates, distributes and transmits electricity in the state.

As part of the MoU with Bihar State Power Holding Company, HDFC Bank will provide its Electronic Cash Management Platform for the payment of fee through RTGS, NEFT & Electronic Fund Transfer.

“At HDFC Bank, we feel privileged to be chosen as a partner for this initiative. This is a big step in the evolution of the payment mechanism for electricity bill payments in the state and will help fast-track payments. We continue to make it easier for people to bank anywhere, anytime with our suite of digital banking offerings as they lead a fast paced, busy life and need convenience of accessing services on the go,” said Mr. Sandeep Kumar, Zonal Head – Bihar, HDFC Bank

In addition to this, the Bank has also tied up with the Registration, Excise and Prohibition department of the Govt of Bihar to enable online payment of land registration fee, stamp duty and other applicable fee related to society, trust registration. Last month, the Bank partnered with Aryabhatta Knowledge University in the state to offer quick and easy fee payment solutions to the students.

The initiatives are part of India’s premier full-service digital bank’s strategic focus on customer convenience, access and delight, using technology as an enabler. In line with this, post the launch of ‘Go Digital’ campaign in 2014, with the ‘Bank aapki mutthi mein’ offering, HDFC Bank has launched a host of new digital banking products.

These include 30 minute paperless auto loan using Biometric technology, 10 seconds personal loan on netbanking, PayZapp and recently introduced instant loans at ATM. This is in addition to HDFC Bank’s powerful Net banking portal and official mobile app, which allows customers to perform over 205 and 85 different types of transactions, respectively.

In addition to digital initiatives, HDFC Bank is also reaching to out to people through its nationwide distribution network. HDFC Bank has 90 branches and 239 ATMs in the state of Bihar. As of September 30, 2016, the Bank had a national distribution network 4,548 branches and 12,016 ATMs across 2,596 cities.