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Who will supervise the HDFC Bank Vodafone joint venture, asked a reporter? Mr Aditya Puri quipped that the RBI would supervise HDFC Bank and HDFC Bank would in turn supervise Vodafone. Dr Chakrabarty clarified that the RBI as the bank's supervisor would hold it responsible for Vodafone adhering to all the relevant guidelines of the RBI.
Sharing the cake!
What is the sharing of revenue/fees between Vodafone and HDFC Bank? Mr Puri's response: “We can't share the cake unless it is broken. So first, let us break-even and then we'll think of how to share the revenue.”
Alert to the threat from competition
When a reporter asked Mr Sood of Vodafone whether they had entered into a similar tie-up with another leading private sector bank, Mr Puri was quick to seize the opportunity. To everyone's amusement, he encouraged the reporter, “Ask him again. We also want to know!”
Location
The product for financial inclusion was launched at the historic Chomu Palace Hotel at Chomu, 45 km from Jaipur. Chomu Palace is a 300-year-old fort. But its claim to recent fame is as the main location for the shooting of the 2007 Bollywood hit Bhool Bhulaiya , described succinctly on Wikipedia as a ‘psychological thriller comedy horror film'! Apparently the actors in the film who shot in this place for a couple of weeks did see some apparitions. Newspersons were spared the spookiness since the press conference wound up before nightfall! Thankfully.
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