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Simplify loan procedures, Rangasamy tells banks

Special Correspondent

Dena Bank's Puducherry branch opened

Puducherry: Chief Minister N. Rangasamy has called upon the banks to adopt simplified procedures for providing loans to benefit entrepreneurial youth and the self help groups.

Declaring open the Puducherry branch of Dena Bank here on Friday, Mr. Rangasamy said the Union Territory administration was implementing a number of schemes to eliminate poverty and unemployment. With schemes aimed at enhancing the economic empowerment of women, the banks should sanction loans with hassle-free procedures.

Chairman and Managing Director of the Dena Bank P.L. Gairola, said the bank had opened its first branch in Puducherry and there were now a total of 1,124 branches in the country..

He said 92 per cent of its business would be put under core banking system in the next two and half years. In all, 850 branches would be under this system and this would include Extension Counters of the bank.

He said all the branches were computerized and the bank had 254 ATMs . It was offering a number of technology products such as ATM-cum-Debit cards and had signed an MoU with the Indian Railways for installation of 117 ATMs and 78 kiosks for issuing various types of tickets.

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