Dena Bank Signs General Refinance Agreement with MUDRA

Today, on 24^th June 2015, General Refinance Agreement between Dena Bank and MUDRA Ltd was executed in a function organized at Head Office of Dena Bank.

The Programme was presided over by Shri Ashwani Kumar, Chairman & Managing Director, Dena Bank. Shri Jiji Mammen, Chief Executive Officer, MUDRA Ltd was the Chief Guest.

Shri Ashwani Kumar in his address emphasised the need of popularizing MUDRA Loans which has been launched by Honorable Prime Minister on 08^th April 2015 with the purpose of “Funding the Unfunded”. The scheme will also help in developing new entrepreneurs thereby creating new avenues for employment.

Shri Ashwani Kumar informed that, Bank has already sensitized the field functionaries for extending finance under Shishu, Kishore & Tarun segments of MUDRA Loans.

Dena Bank has been assigned target of Rs 540 crores by GoI for financing under Pradhan Mantri MUDRA Yojana (PMMY). Dena Bank has already started financing under the scheme and up to 15.06.2015 around 50.00 crores of loan has been extended to 2650 beneficiaries.

General Refinance Agreement was executed by Shri. K C Chhipa, General Manager, (PS&RRB, Retail & MSME) on behalf of Dena Bank and Shri Jiji Mammen, CEO, MUDRA Ltd. on behalf of MUDRA Ltd.

About Dena Bank:

As of today, the number of branches are 1748 through 29 zonal offices; 671 rural branches (including 72 satellite branches); 376 semi-urban branches; 327 urban branches; and 374 metro branches. Bank has provided 1482 ATMs.