DCB Bank inaugurates New branches in Udgir, Latur, Maharashtra

BANKING / FINANCE

DCB Bank inaugurates New branches in Udgir, Latur, Maharashtra

by Shrutee K/DNS

August 11, 2015, Latur: Agriculture & Inclusive Banking focused bank, DCB Bank Ltd. (Formerly Development Credit Bank Ltd.) today strengthened its commitment to the residents of Marathwada region in Maharashtra  with the opening of its latest branch  at Madlapur, Udgir Bidar Road  in Latur.

The branch,  provides an array of agri-business, micro business and small and medium business banking products in Udgir, Nideban, Banshelki, Jaknal, Netragaon  and nearby areas in Latur District was inaugurated by Mr. R. Venkattesh – Head Operations, IT & HR, DCB Bank, in the presence of Mr. Narendranath Mishra - Head Agri & Inclusive Banking, DCB Bank.

DCB Bank offers a wide range of banking product for Agri business sector. The Bank provides, tractor loan, dairy loan, crop loan, land development loan, loan for Agri processing activities as well as high tech farming such as greenhouses, working capital loan for agribusiness, warehouse construction loan, finance against warehouse receipts,  loan against gold, loan to SME/MSME, foreign exchange and cash management services for entrepreneurs and business banking customers.

The Bank also has home loan to for self employed customers. DCB Bank also offers amongst the best FD (fixed deposit) interest rates from one year to five year time period. Senior Citizen Fixed Deposit and Tax Saving Fixed Deposit from DCB Bank also provide amongst the best interest and yield to customers.

A unique feature provided by the Bank is customers who apply to open the DCB Elite Account can chose their own bank account number.

Mr. R. Venkattesh – Head Operations, IT & HR, DCB Bank, said, “Maharashtra is a very important market for us and we believe that branch expansion is significant as we bring customer service focus, we offer better features and benefits for customers. Customers should look forward to receive customized services and personalized attention to their banking needs – this is our differentiator and strength. DCB Bank aims to grow its customer base with a wide range of banking products and services along with easy to use Mobile Banking, Internet Banking.”

Mr. Narendranath Mishra, Head – Agri and Inclusive Banking, DCB Bank, said, “With our new branch at Udgir, we aim to reach out to a large cross-section of customers and provide personalized products and customer friendly banking services. It will be a one-stop shop for banking services (Loans, Deposits, Insurance, and Foreign exchange remittance) of the customer.”

DCB Bank’s financial inclusion initiative focuses on micro-deposits and savings accounts for low-income groups who have no access to banking system previously. The Bank will reach out

to new customers with customer friendly products such as Kisan Mitra, Value Saving Account

and small value Recurring Deposit.

About DCB Bank

DCB Bank is a modern emerging new generation private sector bank with 158 branches in 107 locations across 17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed.

DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers. The Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Microfinance Institutions (MFI), Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.

The Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds around16.3% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies. AKFED operates as a network of affiliates with more than 90 separate project companies over 30,000 people. The fund is active in 16 countries in the developing world. AKFED had co-promoted HDFC in India in the late 70s.

For more details please visit www.dcbbank.com & http://www.akdn.org/akfed