Bank deposits have increased by 20 pc: Dena Bank CMD

Deposits of banks have increased by more than 20% after the melt-down episode,because the interests on fixed deposits were on the higher side and interest rate on loans had also been brought down.

Written by Express News Service | Ludhiana | Published:January 22, 2009 2:10 am

Deposits of banks have increased by more than 20% after the melt-down episode,because the interests on fixed deposits were on the higher side and interest rate on loans had also been brought down.

This was stated by Dena Bank’s CMD,DL Rawal,who had come to attend a customers’ meet in Ludhiana. He said that liquidity of banks had increased a lot and hence now it was easy for them to give credit and hence the credit percentage was also increasing. He said now the bank had 32 branches in the area and by the end of the year,they would have 57 branches. The focus of bank was on SME,agriculture and few other sectors,he said.

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