Dena Bank proposes to provide financial support to those small and medium businessmen whose projects are viable but are facing short-term liquidity constraints.
In this regard, the bank plans to evaluate the scheme for the SME (small and medium enterprises) and restructure loans given to viable ventures, said Ashwani Kumar, the designated Chairman and Managing Director of the bank.
With the economic growth slumping to about 5.3 percent from as high as 9 percent before the 2008 credit crisis, many borrowers are facing difficulty in servicing loans.
This has led to rising defaults and calls for easier terms for loan repayment. On technology, Kumar said that the thrust would be on converting alternate channels into mainstream channels. Alternate banking channels include transaction done through mobile, ATM and internet.
The focus would be to provide convenience in banking and on how to improve service and ensure that visits to the branches are reduced, he said.
Kumar also aims to improve the bank’s ranking. Dena Bank was among the first lot of banks to be nationalised way back in 1969, and at that time it was among the top few banks in terms of total business. Now it stands 18th in terms of business, he said.
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