Dena Bank hands over Agri, SME & Retail Loans to Customers in Thane Zone

Bank’s Mega Credit Camp provides 888 proposals of loans amounting to Rs 89.44 crore to the priority sector

November 21, 2013 11:20 IST | India Infoline News Service
Dena Bank has organized a two-day Mega Credit Camp Function recently in Thane to sanction 888 proposals of loans amounting to Rs 89.44 crore to the priority sector comprising borrowers from Retail, SME and Agriculture sectors. Further, the bank has mobilized 200 credit proposals amounting to Rs.118.11 crores bringing the loan disbursement amounting to Rs.207.55 crores.

Presiding over the mega camp, S.K.Sharma, General Manager, Dena Bank, said, “The beneficiaries of the such priority sector advances are small borrowers from 69 branches of Thane zone comprising of 4 districts of Maharashtra viz Thane, Raigad, Sindudurg, Ratnagiri & the state of Goa”. The Zonal Manager of Thane Shri Motilal Behera and the Dy Zonal Manager Shri Rajiv Sharma along with more than 80 valued customers attended the function.

This mega camp is a part of Bank’s nation-wide initiatives to mobilize loan applications, mainly retail and priority sectors which will improve the bank’s NIMs and also address some of its business targets. The bank is also running a special festival offer scheme for Retail Loan Customers. Under this scheme, Housing loan borrowers will be benefitted by a very low interest rate of 10.25% for loans up to Rs 1 crore and Nil Process fees offers on Housing loan, Car, Two Wheeler and Consumer durable loans.

Dena Bank has been focusing on retail, farming and SME segment through expanded network of the bank as the bank expects retail segment credit growth to touch 25% from existing 17% while SME segment will be at 35% YoY (year-over-year) growth”. The Bank is looking to maintain its net interest margins of about 2.75 to 3 per cent and to that affect, the bank is mobilizing a lot of Saving Bank (SB) deposits under two special schemes in SB where it gives accidental insurance up to Rs 5 lakh and life insurance up to Rs 1 lakh. The bank expects that these two schemes would enhance retail credit.

The Bank has successfully implemented Financial Inclusion Plan (FIP) which envisages road map for provision of banking services through banking outlet in 730 villages allocated to it.Bank has set up Ultra Small Branches in 683 villages, which are serviced through Business Correspondent Model. Bank has been imparting training to employees as an on-going process for development / improvement of their knowledge, skill and business confidence. Such training programmers are conducted in-house through various training centres and also through reputed institutes like NIBM, CAB, BIRD, ASCI, MDI, and JNIDB etc.

Dena Bank has nearly 15,000 employees serving over 14 million customers through 1500 branches across the country and committed to provide the best possible innovative products and services to customers to grow by leaps and bounds.

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