Ahmedabad: Dena Bank has proposed to implement Rs 400 crore 'Core Banking' or 'Anywhere Banking' Project in three years said its Chairman and Managing Director P L Gairola.
The bank in its forthcoming project will focus on retail, rural, small and medium enterprise (SME) sectors for asset building.
Unveiling the bank's Vision 2005-10, Gairola said, the bank proposes to take its total business from Rs 36,946 crore last financial year to Rs 50,000 crore by 2006-07.
He said the advances to retail sector is proposed to be increased by 52 per cent, agriculture sector by 36 per cent and SME 30 per cent during the current year from last year.
"Although small in size, Dena Bank has a big exposure in the rural sector," said Gairola.
"Two-third of its 1,120 branches are in rural and semi-urban areas. That is the ratio among 518 branches in Gujarat," he added.
It is not only fulfilling its statutory obligation of 33 per cent advances to rural sector and 40 per cent to priority sector, but also it runs several unique schemes for the rural sector.
"The bank has adopted 51 villages in its seven lead districts (out of total 25) in Gujarat to ensure not a single household is left without banking services." he said.
"Each of these villages must have a minimum of two Self Help Groups and Farmers' Club. NCDEX Price Index is maintained at Dena Bank branches in these villages to enable farmers tally global fluctuation of the crops they produce," he added.
The two Dena Bank Rural Development & Self Training Institutes opened at Bhuj and Mehsana last year, have trained over 500 youth besides arranged credit for them to start their own business.
Gairola, who was in Gujarat in connection with the bank's 69th foundation day, said that the bank has decided to open new savings bank accounts with just five rupees as deposit in rural areas.
The bank also proposed to open 45 new branches and 245 ATMs in the country, including 33 branches and 37 ATMs in Gujarat, during the year, taking the total to 500 ATMs and 1,165 branches.
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