DCB Bank on major expansion plan in Chhattisgarh, MP

Four branches in Chhattisgarh will take total to 13; MP to get nine more branches to take total to 25

DCB Bank, a new generation private sector bank, will be expanding its business in Chhattisgarh and Madhya Pradesh.

“In Chhattisgarh, DCB bank has nine branches that would be increased to 13 by September this year,” R Venkattesh, Head Operations (IT and HR), said. The bank also has a plan to scale up number of branches to 25 in Madhya Pradesh. At present, DCB bank has 16 branches in the state.

The DCB bank today opened three new branches in Chhattisgarh where it had earlier six branches. “Chhattisgarh is an important market for DCB bank,” he said. According to officials, the bank had registered a growth of about 200 per cent over volume in last one year in Chhattisgarh had would remain as a focus state for the DCB bank.

The bank had launched country’s first Aadhaar-based ATMs in Odisha. Venkattesh said the next target state for the launch of Aadhaar-based ATM would be Chhattisgarh.

The bank offers a wide range of banking products within the ambit of agriculture and inclusive banking. The financial inclusion initiative focuses on micro-deposits and savings accounts for the people, who do not have access to a formal bank that also offers loan for warehouses construction, finance against warehouse receipts, cash management services.

Bank’s head for agriculture and inclusive banking Narendranath Mishra said that the DCB bank aimed to grow the customer base and also bring unbanked customers to formal banking.