DCB bank targets Odisha, Chhattisgarh to provide Agri & Inclusive Banking products

dcpbankSambalpur : DCB Bank (Development Credit Bank Ltd.), a new generation private sector bank forays into Chhattisgarh with the opening of its branches at Berla and Bemetara. The branches, which would provide an array of agri-business bank products in Sambalpur, Attabira, Bargarh, Dungripalli and nearby areas in Odisha, were inaugurated by Mr. Murali M. Natrajan, Managing Director & CEO, DCB Bank.

Agriculture and allied business being the primary source of income in these areas, DCB Bank would offer a wide range of agri business products such as, tractor loan, dairy loan, warehouse construction loan, finance against warehouse receipts, crop loan, land development loan, working capital loan for agribusiness, loan to SME (Small and Medium Enterprise) & MSME (Micro, Small & Medium Enterprise), loan for housing to all categories of customers including the self employed segment.

DCB Bank’s foray into Chattisgarh targets areas, which are currently not covered by any other bank. A majority of farmers in Berla and Bemetara still practice the traditional methods of cultivation due to lack of knowledge and inadequate funding. The Bank will establish a strong retail and agribusiness banking model with particular focus on modern farming to enhance farm productivity and increase income from agriculture and agri-business.

Mr. Murali M. Natrajan, Managing Director & CEO, DCB Bank, said, “DCB Bank is delighted to enter Chattisgarh with two branches. The Bank is known to provide personalized and customer friendly banking services and products. We will serve customers in Agri & Inclusive Banking, micro-SME and SME business segments. We intend to broaden our outreach to unbanked areas and contribute to financial inclusion”.

This is just the start of DCB Bank’s commitment in Chattisgarh. The Bank will soon open three to four more new branches in the State. The proposed new branches are Baloda Bazaar Dungargaon, Kumhari and Kurra (Rajim); more details will be shared in due course of time.

Mr. Narendranath Mishra, Head – Agri and Inclusive Banking, DCB Bank, said, “With our new branches at Berla and Bemetara we aim to reach out to a large cross-section of customers and provide a wide range of customized products across retail and agri-business space. It will be a one-stop shop for the banking needs (Loans, Deposits, Insurance, and Remittance) of the customer.”

DCB Bank’s financial inclusion initiative focuses on micro-deposits and savings accounts for low-income groups who have no access to banking system previously. The Bank will reach out
to new customers with customer friendly products such as Kisan Mitra, Value Saving Account
and small value Recurring Deposit.

DCB Bank offers a variety of loan products that cater to farmers, agriculture and small and medium businesses. Some of these loans are; loan against warehouse receipt, crop loan, loan for agri allied activities, working capital loan, loan against gold, loan for microfinance institutions, loan for new tractors and implements, loan for agri corporate and Small & Medium Enterprises (SME) and loan for warehouse construction. DCB Bank forays into Chattisgarh.

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OdishaInc Bureau