Finally Juhapura to get nationalised bank branches

The proposal was being considered since 2004 but it got delayed on one pretext or the other under the garb of technicalities. A delegation of prominent businessmen and influential persons of this area had met Dena Bank officials and the matter also came up for discussion at the State Level Bankers’ Committee meeting held in May 2004. But no nationalised bank at that time had come forward to open a branch there. “So, being the lead bank, Dena Bank decided to take the initiative and went ahead with a series of deliberations with the head office and the local community members,” said a senior executive at the bank.

He said the bank has finalised the venue at Sunrise Arcade near Vishala Circle and the negotiations for leasing the premises are in the final stages. This should see the branch begin its functioning within a month, he said. However, he would not commit on the date. On the other hand, Bank of India officials say they have already started the process of acquiring the space and their branch would be functional by the end of this month.

Both the banks are expecting good business from this area. While Dena Bank expects to have deposits of Rs 15 crore from 5,000 savings and 1,000 current accounts in the first year, Bank of India aims higher in terms of deposits — Rs 20 crore in the first year itself.

“There is good potential for business in this area and therefore we are encouraged to open our branch there,” said a Dena Bank official on the condition of anonymity. T R Chawla, General Manager of Dena Bank, did not comment on this.

Though the matter has dragged on for several months now, the Union Budget mentioning opening of branches in 258 minority dominated localities in the country has brightened Juhapura’s prospects.

Reacting to the development, A A Shaikh, a retired high school principal, said: “This is going to give an opportunity to nationalised banks to realise that members of minority community are also credit worthy. In fact, having banking facilities is the right of people of this area like citizens in any other part of the country,” he said.