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DENA Bank

DENA Bank

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Published by: babajan_4 on Jul 29, 2009
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04/20/2011

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History:1969- The Bank was brought into existence by an Ordinance issued on 9
th
July, bythe Central Government. The Bank is a Government of India Undertaking andcarries on all types of banking business. Dena Bank wasnationalised(and therefore dropped the'Ltd.' from its name) in 1969 along with 13 other banks in India.1970- The Bank Companies Act, 1969, was declared null and void by the Supreme Court on the 10thFebruary and was made effective retrospectively from 19th July, 1969.- Under the `Lead Bank' scheme the Bank was allotted 9 districts of which 6 werein Gujarat, 2 in M.P. and one in the Union Territories of Dadra and Nagar Haveli.1971- Branches were opened in most of the lead districts. Bank took up second stage of the lead bank scheme. District level consultative committees were set up in all the districts.1978- The Bank had set up its first regional rural bank in the Kutch district of Gujarat State in December.
 
1997- Rs 6.00 crores Equity issued through prospectus to the public at a prem. of Rs 20 per share.- Dena Bank one of the premier public sector banks, has introduced DenaSmart Card, to facilitate anywhere banking. Dena Bank is the first bank to launch this uniquecustomer friendly product. It is for the first time in India that a Bank is using Smart Card for storing account details.- The new card will be known as Dena Credit Card against Can Card, presently offered bythe bank.- Dena Bank proposes to start an industrial equipment leasing divisionduring 1997-98, according to Madhukar Umarji, General Manager of the Bank.- Dena Bank plans to become a depository participant with National Securities Depositories Ltd(NSDL). The bank has also signed an agreement with NSDL for dematerialisingits scrips.- The bank proposes to open 15 branches in the country in the currentyear.- Dena Bank has computerised 250 branches till date out of 1,150 branches and has obtainedWorld Bank assistance to the tune of Rs.63 crores. The bank has set up 11 ATMsthroughout the country and 20 more are expected to be installed during the year.
 
- The bank has proposed to increase its average staff productivity to Rs 80 lakh per employee from Rs 70 lakh. A major leap up will be taken in the field of modernisation, as 50more branches will be fully computerised during the current year which will make the figure of 95 fully computerised branches.- Dena Bank has tied up with Visa Card International for providing independentcredit card facility to its customers. Consequently, the bank had decided to calloff the credit card agreement with Canara Bank. - Dena Bank is the second bank after Union Bank of India to break agreement with Canara Bank in connection with credit card facility. - Dena Bank started ATMs at five of its branches that are hooked to Iwadhan, a shared paymentnetwork system in the metropolis spearheaded by Indian Banks' Association2004-Dena Bank has informed that the Central Government has appointed Shri P Vijaya Bhaskar,Chief General Manager, Reserve Bank of India, Mumbai as a Director on theBoard of Directors of Dena Bank with effect from January 09, 2004 and untilfurther orders, in place of Smt. Grace Koshie, Chief General Manager-in-charge, ExchangeControl Department, Reserve Bank of India, Mumbai.

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