HDFC Bank adds 250,000 accounts during lockdown

Despite the lockdown, the largest private sector lender HDFC Bank has been able to add 250,000 new customers in the last 40 days through an online facility which helps open savings accounts instantly, sources said. The account is created using a "limited know your customer (KYC)" requirement provision, and the customer has a year's time after the instant account opening to update full details, said a report by the news agency Press Trust of India.

"All the 250,000 accounts which have been opened are new bank customers," a source said, adding that the minimum average monthly balance requirement is Rs 10,000 for metro cities, Rs 5,000 for semi urban centres and Rs 2,500 for rural centres.