Aftereffects of demonetisation in banking sector has started easing out: Dena Bank CMD

  • | Saturday | 25th February, 2017

It offers the entire gamut of banking services including retail banking, corporate banking, international banking, services, priority and SME banking amongst others. LUCKNOW: The aftereffects of demonetisation in banking sector has started easing out with enough cash availability with banks at present, said Dena Bank CMD Ashwani Kumar. The public sector bank is fast expanding its digital footprint across country.The bank has already inaugurated a 'digital awareness' programme and credit camp in Lucknow in early February 2017. Bank is also providing all technological solutions like internet banking, mobile banking. It became a public ltd. company in December 1939 and later the name was changed to Dena Bank.

LUCKNOW: The aftereffects of demonetisation in banking sector has started easing out with enough cash availability with banks at present, said Dena Bank CMD Ashwani Kumar. The public sector bank is fast expanding its digital footprint across country.The bank has already inaugurated a 'digital awareness' programme and credit camp in Lucknow in early February 2017. It has various digital offerings such as mobile banking services like UPI, '99# service' and tab banking and an e-wallet offering too.Dena Bank has about 84 branches in UP and targets to cross 100 branches by this year end. After demonetisation, the bank received a whopping deposit of about Rs 20000 crore in the months of November and December 2016.Kumar said, "Even in UP, we made about 8% growth in deposits (Rs 328 crore) in November-December 2016 compared to the last year's same period. UP is an important market for us. We plant tom put 10000 PoS machines in place by March 2017 end." The business mix of the bank in Lucknow is Rs 3357 crore (total deposit- Rs 2661 crore & total advances- Rs 696 crore).Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd . It became a public ltd. company in December 1939 and later the name was changed to Dena Bank. It offers the entire gamut of banking services including retail banking, corporate banking, international banking, services, priority and SME banking amongst others. Bank is also providing all technological solutions like internet banking, mobile banking.

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