Kakinada: Dhana Lakshmi Bank, the 80-year-old private sector bank, has planned for opening of 32 more branches including 13 in Andhra Pradesh alone, to add to its network of 181 branches and 24 extension counters all over the country.

The Bank's Executive Director V.S.R. Murthy told a press conference here on Saturday that of the 13 new branches proposed in the State, one would be at Rajahmundry in East Godavari, four in neighbouring West Godavari - at Tanuku, Palakol, Bhimavaram and Narsapur. He said 18 more ATMs also would be started in the State of which two are in East Godavari to be opened at Kakinada and Rajahmundry by March end. Claiming that the bank was a leading player in dispensation of micro credit among private sector banks, Mr. Murthy said that they had extended micro credit to the extent of Rs.200 crores.

Poverty alleviation

He said the banks had recognised micro finance intervention as an effective tool for poverty alleviation as such streamlined the linkage between the bank and Self Help Groups through 100 branches. The micro finance system, he said, was working well with the loan recovery, which stands at 99.2 per cent.

He said they had introduced centralised banking solution (CBS) on the Flexcube platform for extending anywhere and any time banking to its clientele through multiple delivery channels and deployed CBS in 148 branches covering 93 per cent of total business. V. Umamaheswerarao, bank's director who was present said that the bank's total business was of Rs.4,418 crores as on September end and poised to cross Rs.5,500 mark by March.

He said the bank had entered into both life and non-life insurance and also a depository participant of National Security Depository Limited (NSDL) offering Demat services through selected branches. G.Damodara Rao branch manager also attended.

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