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2013-09-09

SMEs, retail need support from banking sector: Dena Bank

Dena bank will have complete focus on Agriculture, SME and Retail segments which need actual support from formal banking channel.

Dena Bank will have complete focus on agriculture, SME and retail segments that need actual support from formal banking channel.

 

In the inauguration ceremony of Dena Bank’s 1,500th branch in Thiruppuvanam, Tamil Nadu, Hon’ble Union Finance Minister P. Chidambaram said that the opening of Dena Bank’s branch in Thiruppuvanam would 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 Food Security Bill,” said Chidambaram.

 

Ashwani Kumar, Chairman and Managing Director, Dena Bank, said that the Bank will play vital role in the economic development in the Sivaganga district and whole Tamil Nadu.

 

He said 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 that need actual support from formal banking channel.”

 

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