Dena bank is one of the largest banks of India founded on 26th may 1938. It is one of the oldest Bank of India whose headquarters are now in Mumbai. To focus on its history a little bit, it was founded by Devkaran Nanjee initially with the name ‘Devkaran Nanjee banking company ltd’ which was changed to its existing name ‘Dena bank’ in 1939 when it was incorporated as a public company.
Then it was nationalized in 1969 and ‘ltd’ was removed from its name. It became very famous for its revolutionary schemes like credit card scheme known as ‘Dena krishi sakh patra’ and smart card at selected branches plus a minor saving scheme.
Other than these, it had a drive in ATM in Mumbai.
Facilities and services of Dena bank:
Today, Dena bank head office has a network of 1122 branches across the whole country with 295 ATM across the country.
More importantly, why this bank is so famous in India and overall the world is because of its these milestones,
1) It is a public sector bank which gave a loan of 72.3 crores for augmentation of Tier 2 capital under financial sector development project in one year that is 1995. This is why Dena bank is selected among the list of public sector bank by World Bank.
2) It receives loan from World Bank for the purpose of training and technological up gradation. A few banks in the world have this facility only.
3) It issued bonds of Rs. 92.13 crores in November 1996.
4) It issued Rs. 180 crores in November 1996 for maiden public.
5) It introduced the Tele banking facility on India.
The Dena bank has a remarkably good market share. it has issued to its account holders 1.8 lakh debit cards. Its existing popular services include financial facilities of every kind, loans and credits, NRI services for public is also available, personal and corporate banking facility with solution to banking problems.
When it comes to credit card facility, it can be used in Nepal along with India itself.
This facility gives a variety of solutions and opportunities and easiness to its customers. It can give lost baggage insurance, accident insurance and insurance for lost goods.
For personal banking, the Dena bank offers many schemes. These account for schemes like deposit scheme, Dena Maha Tax Bachat, Dena Niwas, Dena Vidya Laxmi and Dena cash certificates.
Dena bank also proved electronic fund transfer. This service is available in cities like Bangalore, Kolkata, Chennai, Nagpur, Hyderabad, New Delhi, Mumbai, Guwahati and Bhubaneshwar.