Dena Bank moves to attach assets of 190 defaulters

Dena Bank has issued 190 notices to defaulters involving Rs 316 crore. It has already acquired assets of 10 borrowers, including that of Ahmedabad-based Krishna Chemicals and a hotel in Bhavnagar, Gujarat.

“We are making all-out effort to reduce our non-performing assets. Most of the borrowers have responded positively to our notices and many compromise cases are pending before the board for their approval,” said Dena Bank chairman and managing director AG Joshi.

The bank is planning to launch a debit card in association with Visa Electron. The card will be issued free for customers who are willing to maintain a minimum quarterly balance of Rs 5,000 and a nominal fee of Rs 100 will be charged for those who don’t want to maintain the minimum balance. Both the cards comes with a free insurance cover from accident of Rs 1 lakh.