In the second part of the interview with Nitin Chugh, HDFC Bank's head of digital banking, he talks to us about the bank's plan to become an end-to-end digital bank which is also looking to provide loans on mobile devices and reducing loan approvals to five minutes and disbursal in 30 minutes. Answers to the questions have been edited for brevity: Read part one of the interview here: "IMPS transactions doubling almost every six-eight months” – HDFC Bank’s Nitin Chugh MediaNama: Aditya Puri's email which was sent to customers had mentioned food delivery too? What is the bank's plan in this space? You also have a large merchant presence in restaurants. How will you look at leveraging that? Nitin Chugh: He did not mean food delivery as a business, but he meant through apps like Chillr or through your wallet, you would be able to pay your home delivery guy. It's a use case he mentioned but we won't be getting into food delivery. He hasn't specified Chillr or the wallet but he was basically saying that we will make something even as home delivery convenient through an app. There are two-three ways of doing that. Let's say when we introduce peer-to-merchants payments on Chillr; the merchant has a Chillr account and you as a customer has a Chillr account and I have come to deliver your order. The only thing you have to do in this case is to authorize payment to a merchant at the time of placing…
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“We can approve a loan in 5 minutes and disburse in 30 minutes on our digital platform” – HDFC Bank’s Nitin Chugh
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