With a focus on priority sector and retail segment, Dena Bank organised a two-day credit camp sanctioning 888 loan proposals worth Rs 89.44 crore to the priority sector comprising borrowers from retail, SME and agriculture sectors to benefit four districts in Maharashtra.
Further, the public sector lender has mobilised additional 200 credit proposals amounting to Rs 118.11 crore bringing the loan disbursement amounting to Rs 207.55 crore.
SK Sharma, General Manager, Dena Bank, said, “The beneficiaries of advances are small borrowers from 69 branches of the Thane zone comprising 4 districts of Maharashtra, that is, Thane, Raigad, Sindudurg, Ratnagiri, and Goa.”
This mega camp is a part of the bank’s nation-wide initiatives to mobilise loan applications, mainly retail and priority sectors which will improve the bank’s NIMs and also address some of its business targets, the bank said in a statement.
Dena Bank aims to maintain its net interest margins of about 2.75 to 3 per cent and to that affect, the bank is mobilising a lot of savings bank deposits under two special insurance schemes.
“It has been focusing on retail, farming and SME segment through expanded network of the bank as the bank expects retail segment credit growth to touch 25 per cent from the existing 17 per cent while the SME segment will be at 35 per cent year-over-year growth,” the bank said.
The bank is also running a special festival scheme for housing loan borrowers offering interest rate of 10.25 per cent for loans up to Rs 1 crore and zero processing fees on loans for housing, cars, two wheelers and consumer durables.