Dena Bank to give Rs 700-cr booster to diamond industry

Dena Bank,which is adding 20 more branches in Gujarat this year,has claimed to be coming up with a financial help package of Rs 700 crore for diamond traders.

Written by Express News Service | Ahmedabad | Published: February 11, 2009 2:16:56 am

The bank aims to launch 20 more branches and provide diamond traders with Rs 700 crore and Rs 600 crore to state textile units

Dena Bank,which is adding 20 more branches in Gujarat this year,has claimed to be coming up with a financial help package of Rs 700 crore for diamond traders. Another package of Rs 600 crore for textile units in the state is also in the pipeline.

The bank also aims to install Core Banking Service (CBS) in all branches by December this year,said D L Rawal,Chairman and Managing Director,on Monday after inaugurating the 500th CBS branch in Asarwa area of the city.

Rawal said he had asked officials to hold meetings with representatives of diamond and textile mills on a quarterly basis and restructure their loans and address other problems.

He said diamond workers could also approach the bank with loan applications through bankable scheme recommendations.

He added that a credit camp will be held at Gandhinagar for extending credit to women’s self-help groups,wherein Rs 15 crore will be disbursed.

Besides,central processing centres will be opened in Ahmedabad,Rajkot,Surat,Mehsana and Vadodara districts for small and medium enterprises,he said.

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