Hon. Union Finance Minister graces Dena Bank’s Platinum Jubilee celebrations

Hon. Union Finance Minister graces Dena Bank’s Platinum Jubilee celebrations

·         Hon. Union Minister of State for Finance, Finance Secretary, RBI Dy Governor also attended the event along with several prominent personalities  from the field of banking/ finance

·         Hon. Finance Minister felicitated the members of the Founder’s family and prominent personalities - Smt. Jyoti Sanghvi and Shri Nirmal Nanjee (from the founder’s family); Dr. Anil Kakodkar, Dr. Ramakant Panda, Smt. Monisha (Mana) Shetty, Shri Virat Kohli; Lt. Commander Abhilash Tomy and Shri Parthiv Gohil

·         In Platinum Jubilee year, Dena Bank crossed a biz mix of Rs. 1.5 lakh crore, registered highest net profit, and recommended highest dividend

·         Earmarked Rs. 8 cr for giving free medical insurance to 2.25 lakh farmers’ families of Dena Kissan Credit Card holders

 

 

Mumbai, May 25, 2013:  Hon. Union Finance Minister Shri P. Chidambaram graced the platinum jubilee celebrations of Dena Bank, India’s Trusted Family Bank, as the Bank celebrated 75 years of Banking Excellence since it was founded by late Shri Pranlal Devkaran Nanjee. Dena Bank’s Chairman & Managing Director Shri Ashwani Kumar and Executive Director Shri A. K. Dutt welcomed the Union Finance Minister and a host of luminaries from the world of banking and finance - Hon. Union Minister of State for Finance Shri Namo Narain Meena; Shri Rajiv Takru, Secretary, Dept. of Financial Services, Ministry of Finance; RBI Dy. Governor Shri H. R. Khan; CMDs and EDs of other Banks; retired CMDs, EDs of Dena Bank; Members of Founders family; and senior officials from  Govt. and Reserve Bank of India; distinguished clients and well wishers.

On the occasion, Hon. Finance Minister launched Dena Bank Travel Card, Dena Bank Gift Card, Dena Bank Fixed Deposits thru' online banking, Dena Help - Dena Bank Grievance Redressal and Service System and free Dena Bank App (Application) for smartphones and tablets. Hon. Finance Minister also announced that Dena Bank has adopted 32 drought affected villages and provided 101 drinking water storage tanks in Aurangabad and Nashik districts of Maharashtra. The Bank also donated 100 wheelchairs for the benefit of physically handicapped to the Indian Red Cross Society, KEM Hospital, Tata Memorial Hospital, Sir JJ Group of Hospitals (Grant Medical) and Jai Vakeel School for Children with Mental Retardation and Multiple Disabilities.

 

On the occasion, Hon. Finance Minister, on behalf of Dena Bank, felicitated Smt. Jyoti Sanghvi and Shri Nirmal Nanjee from the founder’s family; Dr. Anil Kakodkar (eminent nuclear scientist and Chairman, Research Advisory Council, JNNSM at Department of Atomic Energy); Dr. Ramakant Panda (eminent heart surgeon, Vice Chairman and MD of Asian Heart Institute); Smt. Monisha (Mana) Shetty (social worker and daughter of late Vipula Kadri of Save The Children India); Shri Virat Kohli (eminent cricketer coached by Dena Bank employee Shri Rajkumar Sharma); Lt. Commander Abhilash Tomy (the first Indian to circumnavigate the globe solo non-stop in 150 days); and Shri Parthiv Gohil (eminent playback singer and son of Dena Bank employee Shri Bharat Gohil).  

Addressing the distinguished gathering, Shri Ashwani Kumar, Chairman and Managing Director, Dena Bank, said, “Dena Bank is proud to complete 75 years of glorious service to the Nation and our customers and the presence of Hon. Union Finance Minister, Hon. Union Minister of State, Finance Secretary, RBI Dy. Governor and other distinguished dignitaries on this momentous occasion adds grace and value to our celebrations. On this occasion, we reaffirm our commitment to excellence in service and to our stakeholders through our ‘Dena Hai to Bharosa Hai’ ethos.”

During the Platinum Jubilee year, Dena Bank achieved the following historical milestones: Registered highest net profit of Rs. 810 crore in FY 12-13; Recommended the highest ever dividend of 47%; Became a mid-sized Bank by crossing a business mix of Rs.1.50 lakh crore.

On the occasion, Hon. Finance Minister Shri P. Chidambaram said, “On behalf of the Government of India, let me compliment Dena Bank on completion of 75 years and this is truly a long time in the lifetime of an institution. I congratulate all the members of the Dena Bank family for their achievements and it’s a matter of pride to have over 1.5 crore account holders and cross the Rs. 1.63 lakh crore business mark! I also urge the Dena Bank family to move ahead with greater vigour and stronger steps towards the centenary mark. I’m happy that Dena Bank has launched several new products and programmes to spread financial literacy and channelize savings.”

“Dena Bank is committed to corporate social responsibility and as a part of this, the Bank is providing free medical insurance of Rs. 30,000/- each to farmers’ family members of our Kissan Credit Card holders benefitting more than 2.25 lakh families. We have earmarked a sum of approx. Rs. 8 crore for this initiative.  We are also providing scholarship for primary and secondary education to the girl child of economically weaker section. The Bank has been constantly making endeavours to quicken the pace of rural development by enlarging the flow of credit to the priority sector, particularly Agriculture and MSME. In the area of Financial Inclusion and Direct Benefit Transfer, the Bank has actively engaged itself. In our Platinum Jubilee year, we have undertaken a number of CSR initiatives such as Health Check-up Camps, Blood Donation Camps, etc., all over India,” said Shri Kumar in his speech.

Hon. Minister of State for Finance Shri Namo Narain Meena added, “I’m glad that Dena Bank is taking steps in the direction of financial literacy, which is high priority means to address inclusive growth. I’m glad Dena Bank is one amongst the PSU baks helping the Government in its Direct Benefit Transfer (DBT) initiative. Each bank has space to grow and Dena Bank will find its own niche in banking. I’m sure that the staff and officials of Dena Bank will continue to serve customers with dedication and dynamism.”

“We realize that there is a need to change given the changes in the banking environment. The consumer demographics are changing with continued growth in share of young working population. Multiple advancements in the field of technology are being leveraged by institutions to create differentiated positions. The industry is also going to see much more competition with entry of multiple new banks.  In this context, we have initiated steps towards revisiting our business model and processes to keep pace with times. To this end, the Bank has made significant investments in technology,” Shri Kumar added.

The event ended with a Vote of Thanks given by Shri A. K. Dutt, ED, Dena Bank.