Latest News
Dena Bank Source Name: Dena Bank

Dena Bank Signs MOU with Tata Motors for Consumer and Commercial Vehicle Financing

Bank to provide loan upto 85 % of the cost of vehicle at attractive interest rates

Nov 28, 2014   18:18 IST 
Mumbai, Maharashtra, India

Dena Bank, India’s trusted family bank, has signed an MOU with M/s TATA Motors Limited. for financing Consumer and Commercial vehicles  manufactured by M/s TATA Motors Limited Ltd. The MOU was signed by Shri R. N. Das, General Manager, PS & RRB, Retail & MSME, Dena Bank and Shri. Ashish Tandon, Zonal Manager (W), TATA Motors at a function held in Mumbai.

 

On this occasion Shri Das said “The MOU will help the Bank to increase its finance to Priority sector advances besides achieving the social objective of the Bank to provide collateral free loan to Micro and Small entrepreneurs throughout the country”.

 

Dena Bank will provide loan upto 85% of the cost of vehicle (on road) to eligible borrowers on merits for purchase of vehicles at a very attractive rate of interest.

 

TATA Motors Ltd. has pan India presence and with this tie up they will be able to increase their market share especially in the states of Gujarat and Maharashtra and Chhattisgarh, where Dena Bank is having very strong presence.

 

About Dena Bank:

In its platinum jubilee year, Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd. Dena Bank is amongst the first nationalised banks to enter equity market in November 1996.  It offers the entire gamut of banking services including Retail Banking, Corporate Banking, International Banking, Services, Priority & SME Banking amongst others. The Bank is the first public sector bank to introduce Tele-Banking facilities for its customers at selected metropolitan centers. Dena Bank offers minor savings scheme, credit card in rural India and customer rating system for rating the bank services. The Bank posted a Total Income of Rs. 2,539.74 crore and a Net Profit of Rs. 125.67 crore as of the quarter ended March 31, 2013.

 

For more information

Adfactors PR:

Nikhil Mansukhani

09833552171, 09820531932


 
 
From left Mr. Sudhanshu Verma (Head Finance & Insurance), Mr. Ashish Tandon (RM (CVBU west Division) for TATA Motors), Mr. R N Das (GM- PS & RRB, Retail & MSME), Smt. Jaya Chakraborty De (DGM- PS & RRB) Dena Bank
From left Mr. Sudhanshu Verma (Head Finance & Insurance), Mr. Ashish Tandon (RM (CVBU west Division) for TATA Motors), Mr. R N Das (GM- PS & RRB, Retail & MSME), Smt. Jaya Chakraborty De (DGM- PS & RRB) Dena Bank
For press background on Dena Bank

click here