DCB Bank (Development Credit Bank ltd), a new generation private sector bank has made forays into Chhattisgarh with the opening of its branches at Berla and Bemetara, a top official of the Bank informed here on Friday.
The branches, which would provide an array of agri-business bank products were inaugurated by Murali M. Natrajan, Managing Director and CEO, DCB Bank. DCB Bank is delighted to enter Chattisgarh with two branches. The Bank will serve customers in Agri and Inclusive Banking, Micro-SME and SME business segments. We intend to broaden our outreach to unbanked areas and contribute to financial inclusion, he said while addressing a news conference here on Friday.
This is just the start of DCB Bank’s commitment in Chhattisgarh. The Bank will soon open three to four more new branches in the State. The proposed new branches would be at Baloda Bazaar, Dungargaon, Kumhari and Kurra (Rajim) and more details would be shared in due course of time, Natarajan said.
He said that Chhattisgarh is a progressive State and the Bank would like to have a sizeable footprint in the State. We would open a total of six branches in Chhattisgarh by March 2014 and within two years there are plans to open 15 branches in the State including Raipur, Natarajan said. Currently, the DCB Bank has a total of 112 branches in 16 States, he said.
“With the Bank’s new branches at Berla and Bemetara, we aim to reach out to a large cross-section of customers and provide a wide range of customized products across retail and agri-business space. It will be a one-stop shop for the banking needs (loans, Deposits, Insurance, and Remittance) of the customer,” Narendranath Mishra, Head (Agri and Inclusive Banking), DCB Bank said.
Agriculture and allied business being the primary source of income in these areas, DCB Bank would offer a wide range of agri business products such as, tractor loan, dairy loan, warehouse construction loan, finance against warehouse receipts, crop loan, land development loan, working capital loan for agri business, loan to SME/MSME, loan for housing to all categories of customers including the self employed segment, he said.
DCB Bank’s foray into Chattisgarh targets areas, which are currently not covered by any other bank. A majority of farmers in Berla and Bemetara still practice the traditional methods of cultivation due to lack of knowledge and inadequate funding. The Bank will establish a strong retail and agri business banking model with particular focus on modern farming to enhance farm productivity and increase income from agriculture and agri-business, Mishra said.
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, he said.