Dena Bank targets Rs 500 crore SME lending in UP
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2014-06-17

Dena Bank targets Rs 500 crore SME lending in UP

Dena Bank is targeting advances of over Rs 500 crore to the SME segment in Uttar Pradesh during 2014-15.

Dena Bank is targeting advances of over Rs 500 crore to the SME segment in Uttar Pradesh during 2014-15.

 

In the last fiscal, the SME lending was a little over Rs 300 crore in the state.

 

The Bank has planned to establish specialised NRI Branches, Retail Processing Hubs and SME Processing Centre across India for faster transactions and loan approvals.

 

"We are focussing on small advances to the agricultural and SME segments for increasing our lending portfolio and credit ratio," Dena Bank, CMD, Ashwani Kumar said.

 

In UP, Dena Bank would open 7 new branches to add to its current tally of 67 branches. It has set a target of growing total business of Rs 5,000 crore in UP by 25% in 2014-15.

 

Under financial inclusion, Dena Bank over-achieved its target by covering 2,958 villages till March 2014 against the target of 2,768 villages.

 

The Bank has procured 2,000 Micro ATMs to equip Business Correspondents engaged in rural areas. This device will facilitate intra-bank, inter-bank, RuPay Card and Aadhar Enabled Payment System transactions.

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