- HDFC is No-1 Brand in India for last 2 years: Navin Puri
- HDFC stands at 26th position in Safest Bank worldwide.
- The closest Indian Bank stands on the 77 position
Nagpur: Country Head-Branch Banking of HDFC Bank Navin Puri while speaking at the launch of Traders e-commerce portal “e-Lala” at Nagpur said that he is very excited to partner with Confederation of All India Traders (CAIT) and Mastercard for this e-Lala venture.
Elaborating their commitment to their customers and providing the fastest service to the customers, said that Customers are like wives and if you don’t keep the wives happy, you would not get dinner.
Navin Puri said that the world is changing at a very fast pace and HDFC has experienced the change and has kept pace with the change. He said that he is grateful and excited to partner with Mastercard Company who are pioneers in bringing about a change in trade and commerce.
He lauded the Mastercard Company and said that they have an e-commerce presence for pretty long time. Navin Puri claimed that HDFC stands where it is today only because of its consistency.
While speaking proudly about his bank, he said that HDFC stands at 26th position as the Safest Bank worldwide while the closest Indian Bank stands on the 77 position. He claimed that HDFC has been doing good business and have a healthy Balance Sheet. He added that according some financial ratings, HDFC has been Number one Brand in India for two continuous years.
He added that HDFC also has number one network of branches in India and are able to do good business because they have been straightforward and honest in all their dealings. Navin Puri added that they are pleased to partner CAIT in this first-of-its kind endeavour to create the largest e-commerce platform in the country. Under this tie-up and part of HDFC Bank’s digital banking philosophy, we will offer a complete range of services and digital payment solutions to retail stores and traders in the un-organized sector, enabling them to sell their products online. Participants will gain access to a whole new market along with the convenience and flexibility to avoid cash transactions.
National Chairman of Confederation of All India Traders B C Bhartia while feeling proud of achieving their dream venture of e-Lala said that it is giving him and the entire team of Confederation of All India Traders. After welcoming all the dignitaries, invitees he delivered his introductory speech.
How do I see e-Lala?
He brought out a unique comparison between the e-Lala project and the epic Ramayana. He said that there have been many instances where queens have been carried away by Rakshasas. Many Kings have fought valiant battles with these Rakshasas to bring back their queens. So why did Rama or Ramchandra become so popular? Well the secret is he defeated one of the strongest Rakshasas and that too using common men (not an army with trained soldiers) and monkeys.
He compared Sita with Retail business and said that Sita (Retail Business) are being hijacked (or kidnapped) by Multi-national companies. There enters e-Lala which is Lord Rama or Ramachandra who with the help of Monkeys (our Traders) will rescue and bring back Sita. Our Jambuvant (Advisors) are Mastercard and like Ramayana will rescue our retail business. B C Bhartia said that e-Lala will play a role with HDFC to win our battle with multi-national companies.
He declared that yes, many traders do not even know how to use the computer leave alone do business on-line. But since the main motto of Confederation of All India Traders has always been Upgradation and Modernization of Trade and Traders, we will train and help the traders to start business on-line.
Bhartia said that it is for first time in India that a lead Bank, payment technology company and Trade Organisation have join hands together to promote a an e-commerce technology platform which will have direct interface between seller and consumers. E-lala will provide all opportunities to offline small retailers to sell their merchandise online as well.
He further said that departing from the practices being adopted by other e-commerce companies, e-lala will enable direct payment by the consumer to seller for every purchases made at the portal without having any interference or holding of payment by portal. Interestingly, in line with Prime Minister’s Digital India program, e-Lala will prefer payment through Credit/Debit card or via net banking and not cash on delivery as prevalent among other e commerce companies. Even delivery man will also carry card swipe machine or mobile wallet with him. For the time being taking cash against delivery will be last resort.
With a mandate of providing e commerce support to offline trade in India, the Confederation of All India Traders (CAIT) launched pilot of its e commerce portal e-Lala at a glittering event at Nagpur on November 5, 2015. Amid chanting of Vedic Shlokas, sound of conch and fervor of festive spirit, the portal was launched in a big way aiming to get on board 50 thousand sellers in 100 cities of India by March 2016. Global major in digital payments MasterCard and lead bankers HDFC Bank are supporting e-Lala for providing seamless digital payment solutions at the portal.
Beside large number of traders, HDFC Country Head, Branch Banking, Navin Puri, Banking Head and Co-Head E Commerce Smita Bhagat, senior officials of MasterCard and CAIT Secretary General Praveen Khandelwal were present at the function which was presided by CAIT Natio
nal President B C Bhartia. The portal will be subsequently launched at New Delhi on November 23, 2015.
It is noteworthy to mention that both CAIT & MasterCard are already jointly conducting a national campaign for educating traders about importance of digital payments in their business and also encouraging them to use Debit/Credit cards for their personal and business transactions and now HDFC Bank has also joined hands to promote financial inclusion & cashless economy in the Country.
Secretary General of CAIT Praveen Khandelwal said that there is an unprecedented growth in internet users and online shoppers in India in past years. In the year 2009 there were 3.8 billion internet users and by 2013 this figure rose to 12.6 billion and at the end of June, 2015 nearly 35.4 million people in India were using internet. Similarly, in the year 2014 about 35 million people were engaged in online shopping which is expected to cross 100 million by the end of current year. In terms of value, in the year 2011 good worth Rs.3600 crores were sold online and in a span of just 4 years i,e in current year goods worth Rs. 53000 crore were already sold through online market.
This increase is largely due to change in purchasing behavior of the consumer which is primarily due to large percentage of people subscribing to broadband internet and explosive growth of smart phones in India. Busy lifestyle, urban traffic congestion, lack of time for offline shopping and shopping at home in a convenient way has helped in tremendous growth of e commerce business.
Divisional President & Country Corporate Officer, South Asia of MasterCard Porush Singh said that India is moving towards a digital tomorrow, given the internet penetration and mobile phones becoming more prevalent and easily accessible. MasterCard, has been working with the Confederation of All India Traders (CAIT) to enable Indian traders to better manage outreach to consumers and other traders by adopting innovative digital technologies in their businesses. e-Lala will be a safe, simple and smart platform for traders to connect with other traders, and also provide safe digital transactions for consumers. Through this partnership with HDFC,and we are working towards the Indian government’s vision of a Digital India and of a transition to digital payments.
