February 11, 2012 admin

Breaking news: Dena Bank would reduce the rate of interest by around 2% for MSME’s with immediate effect

CMD Dena Bank announced interest rate reduction in Chandigarh
Chandigarh 11th February, 2012 : "Dena Bank would reduce the rate of interest by around 2% on loans to MSME’s under different categories with immediate effect. MSME’s are the backbone of the country. For a banker, funding to the small & medium scale enterprises is the safest bet. This industry represents one step above the ‘Bottom of the pyramid’. Dena bank would support MSME’s in all the ways”.
This was said by Mrs. Nupur Mitra, CMD, Dena Bank in ‘MSME CONCLAVE: CHALLENGES & OPPORTUNITIES’ organized by Aryans Group of Colleges (AGC) in association with Chandigarh Management Association (CMA) at  PU, Chandigarh. Mr. S.R Bansal, General Manager(North India Operations), Dena Bank was the guest of honour. Dr. Anshu Kataria, Chairman (AGC) & President (CMA) presided over the event. More than hundred owners of different MSME units of Chandigarh, Himachal Pradesh, Punjab, Haryana and Jammu & Kashmir participated in the event.
Mitra further said that MSME Sector in India is still untapped .There is lot of potential in this sector & too much competition is not there . Dena bank would be aggressively funding MSME’s. She also encouraged Aryans Students to come up with Good Business Ideas which can be funded by the bank.
Speaking on the occasion Dr. Anshu Kataria said Despite constituting more than 80 % of the total number of industrial enterprises and supporting industrial development, many MSMEs in India have problems such as sub-optimal scale of operation, technological obsolescence, supply chain inefficiencies, increasing domestic and global competition, fund shortages, change in manufacturing strategies and turbulent and uncertain market scenario.
“In order to support the MSME Sector it is important that Investors, Industrialists, Government and Financial Institutions should come together to help micro industry in achieving the objective of competitiveness in National & international markets”, lamented Kataria.
Mr. Charan Singh Meena , Dy.Regional Manager, Dena Bank; Dr. Manoj Kumar Sharma, Vice President,CMA; Ms. Madhulika Kak, Secretary General; Mr. M.L Garg, Mr. T L kaushal were also present on the occasion.

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