Hon’ble Union Finance Minister, Shri P. Chidambaram inaugurates Dena Bank’s 1500th Branch in Thiruppuvanam Dist. Sivaganga, Tamil Nadu

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By K Vivek Mob: 09920183006 Email: indianshowbusiness@gmail.com

Hon’ble Union Finance Minister, Shri P. Chidambaram inaugurated Dena Bank’s 1,500th Branch in Thiruppuvanam, Dist. Sivaganga, Tamil Nadu on September 8, 2013. Dena Bank is one of the oldest Nationalised Banks having pan India presence spread across 21 states and 4 union territories. Union Finance Minister Shri P Chidambaram lit the auspicious lamp on the grand inauguration of the 1,500th branch of Dena Bank in Thiruppuvanam (Sivaganga dist. Tamil Nadu) in the presence of Shri Ashwani KUmar, CMD, Dena Bank, Shri AK Dutt, ED, Dena Bank, Shri J Balasubramanian (Independent Director, Dena Bank), Shri P. Ramanujam (Zonal Manager, Chennai Zonal office, Dena Bank) and Shri G. Sudarsanam (Branch Manager – Thiruppuvam, Dena Bank).

Union Finance Minister Shri P Chidambaram lights the auspicious lamp on the inauguration of the 1,500th branch of Dena Bank in Thiruppuvanam (Sivaganga dist. Tamil Nadu) in the presence of Shri Ashwani KUmar, CMD, Dena Bank, (to the right), Shri AK Dutt, ED, Dena Bank (next to FM) and Shri J Balasubramanian, Independent Director (behind centre)

Addressing a large gathering of people, women beneficiaries, SHGs, farmers, small traders and big industrialists, Hon’ble Union Finance Minister, Shri P. Chidambaram said that the opening of Dena Bank’s branch in Thiruppuvanam will contribute to economic development of the town and surroundings. “Banks have to support Government policies and open new branches to serve urban and rural people who need loans for established businesses, new ventures, agriculture and education. These new branches will ensure the successful implementation of Government policies such as the Direct Benefit Transfer and also the Food Security Bill. Dena Bank’s 1,500th branch opening is the right step in financial inclusion and channelize small savings to stimulate inclusive growth for the people in the region.”

Union Finance Minister Shri P Chidambaram interacts with Shri Ashwani KUmar, CMD, Dena Bank in the presence of Shri AK Dutt, ED, Dena Bank (to the FM's right), Shri J Balasubramanian Independent Director, Dena Bank (2nd from left) and Shri P. Ramanujam, Zonal Manager, Chennai Zonal office, Dena Bank (extreme left) during the inauguration of the 1,500th branch of Dena Bank in Thiruppuvanam (Sivaganga dist. Tamil Nadu)

 

On this auspicious occasion, Bank’s Chairman & Managing Director Shri Ashwani Kumar said that Dena Bank will play vital role in the economic development in the Sivaganga district and the whole of Tamil Nadu. He touched upon the history of the Bank and briefed about the progress of the Bank. He emphasised that given the good monsoon, Agriculture Credit is expected to improve and its multiplier effect will be felt in SME and Retail segments as well. He also informed that big corporate houses have multiple options for credit and hence Dena Bank focuses on Agriculture, SME and Retail segments which need actual support from formal banking channel.

Union Finance Minister Shri P Chidambaram interacts with Shri Ashwani KUmar (CMD, Dena Bank) and Shri J Balasubramanian Independent Director, Dena Bank (1st from left) during the inauguration of the 1,500th branch of Dena Bank in Thiruppuvanam (Sivaganga dist. Tamil Nadu)

Talking about vision document of Dena Bank, Shri Kumar said that by 2017 Bank wants to achieve a business mix of Rs. 4 lakh crores. The Bank has crossed the landmark business mix of Rs. 1,50,000 crores before end of 31st March, 2013.

Union Finance Minister Shri P Chidambaram hands over loan certificate to a woman customer during the inauguration of the 1,500th branch of Dena Bank in Thiruppuvanam (Sivaganga dist. Tamil Nadu) in the presence of Shri Ashwani KUmar (CMD, Dena Bank)

In Chennai Zone, Dena Bank has 47 Branches, of which 33 are in Tamil Nadu. Chennai Zone has a business mix of around Rs.3,678 crores.

During the Current fiscal, we plan to open another 6 new Branches in Tamilnadu, of which, 3 are in Rural and 2 in Semi Urban Centres, Shri Kumar said. All our branches are under CBS platform offering seamless service across the Branches. Delivery channels like ATM, Debit Card, RTGS/NEFT, Internet Banking, SMS Banking and M-Banking etc further ensures anywhere anytime banking facility. Dena Bank has wide range of products to suit the banking needs of every segment of the society. The Bank has recently introduced a new product, “Dena Platinum Current Account” with concession in service charges. Under the retail loan schemes the latest products includes – “Dena Doctor Plus” loan scheme exclusively for doctors and Dena Gold Loan scheme. Bank has also introduced a Group Health Insurance Policy for DKCC Borrowers, where the farmer and his/her spouse and two dependent children are provided Insurance Cover of Rs. 30,000, on payment of a nominal premium of Rs.10 per borrower.

Executive Director, Shri A.K. Dutt proposed vote of thanks.

History of Dena Bank:-

Shri Pranlal Devkaran Nanji, established the bank in the year 1938 as Devakaran Nanji banking Company Ltd which became a public limited company in December 1939 and later rechristened as Dena bank Ltd on 26th May 1966. In 1969 the Bank was amongst the 14 major Banks which were nationalized in the first phase. Govt. of India is holding a stake of 51.19 % at present and the Bank came out with 2 Public issues in the past.

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