PSU bank, Dena Bank has anticipations of getting capital infusion valued at Rs 600 crore from the government in this financial year, according to a senior bank official. The official also said that why Dena Bank is asking for capital from the Centre is to speed up its business growth.
Chairman and MD of Dena Bank, D L Rawal said, “We need a total of Rs 1,300 crore over the next three years. We expect to receive Rs 600 crore from the government in this fiscal to fuel our business growth”.
He stated that it is expected that the rest Rs 700 crore would be given by the government in 2 parts of Rs 400 crore and Rs 300 crore respectively.
The bank is optimistic of meeting its goal of 22% rise in credit in the present fiscal, which exceeds the target fixed by RBI.
Rawal said, “We will be able to achieve 22 per cent credit growth and 20 per cent deposit growth in the current fiscal. We have posted a good profit in the June quarter and hope to perform well in the remaining quarters of the current fiscal”.
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