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NSE
233.65
Change Change %
5.65 2.48%

Updated:24 May, 2019, 15:59 PM IST

BSE
233.25
Change Change %
5.25 2.30%

Updated:24 May, 2019, 16:01 PM IST

Development Credit Bank (DCB), incorporated in 1918; is one of the emerging private sector banks in India. The company has network of 80 branches and access to more than 18000 ATMs spread across Maharashtra, Gujarat, Andhra Pradesh, Karnataka, New Delhi, Goa, Tamil Nadu, Haryana, West Bengal, Rajasthan, Union Territories of Daman and Diu and Dadra and Nagar Haveli.

DCB has deep roots in India since its inception in the 1930?óÔé¼Ôäós. Its promoter the Aga Khan Fund for Economic Development (AKFED) holds over 23% stake. AKFED is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. It had co–promoted HDFC in India in the late seventies. AKFED operates as a network of affiliates comprising 90 separate project companies

In December 2009, DCB launched its free Wealth Management advisory service and no bank charges or service fee for Mutual Fund investments. The Bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investments. On January 2010, Development Credit Bank and ICICI Lombard General Insurance Company signed a banc assurance agreement for the distribution of general insurance products through 80 branches of DCB. In July 2010, the bank received RBI's permission to open two Semi–Urban/Rural branches in Gujarat, as a part of its financial inclusion plan.

DCB has partnered with Aurionpro to implement sophisticated cash management systems. DCB  has already implemented Aurionpro?óÔé¼Ôäós two products payPro, and divPro.

The bank is one of the emerging private sector banks in India having access to over 18,000 ATMs and 75 state–of–the–art branches and extension counters spread over nine states and two union territories.

Business

Personal Banking– Under this segment, it offers banking products and services offerings saving accounts, deposit scheme, current accounts, personal loans, housing loans, phone banking facility, mutual funds, Demat account, life and general insurance etc.

Corporates banking– In this, it caters products and services from large corporates to small and medium enterprises. Andhra Bank provides working capital loans, export and import loans, foreign currency loans, term finance, project finance and many other products.

NRI Banking–It also caters its products and services to NRI client such as remittances services, western union money transfer, loans against term deposit, currency exchange etc.

 

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