A lot of people on bank accounts creation are missing the point discussing number of kids, operative accounts and such. What matters is, the infrastructure for scaling up is in place for fast transmission of money. Are banks intermediaries and gate keepers of these transactions? Yes!
Digitisation of banking services has helped banks to be more prudent in their lending. They can see you financially, if your PMJDY accounts are not active, net zero etc. The question more appropriate to ask is, is HDFC leveraging this to become bigger, better and faster.
I really don’t think so. Note that I’m continuing to accumulate this stock.
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