HDFC Bank, as part of its latest Corporation Social Responsibility initiative, today launched ‘Dhanchayat,’ an educational film to create awareness on the dangers of borrowing money from the unorganised sector.
The film was launched under the aegis of Swachh Banking, which was aimed at creating a better understanding about clean and convenient banking available through the organised sector, Madhusudan Hegde, Branch Banking Head, HDFC, told reporters here.
The bank will showcase to the rural population the importance of transparency in financial dealings as also the dignity and self-respect of the individual in the borrowing process, he said.
As against the Bank interest of 12 to 14 per cent, the unorganised sector charged interest ranging from 25 to 36 per cent, making the borrower a permanent debtor to the money lenders, in the villages, he said.
A van with the film will cover six districts in and around Coimbatore and plans to cover 80 villages in 45 days, Hegde said.