Financial Daily from THE HINDU group of publications
Monday, Jan 02, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 02, 2006 |
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Money & Banking
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Credit Cards & Debit Cards Dena Bank launches credit scheme for rural, semi-urban customers Our Bureau
Mumbai , Jan 1 DENA Bank has launched the `Dena General Credit Card Scheme' for customers in rural and semi-urban areas. The scheme, from January 1, will provide credit based on assessment of cash flow, without any security, without any stipulation as regards the end-use of funds and without any document except the application form, said a press release from the bank. The card provides for a maximum credit limit of Rs 25,000 and the credit balances in the account would draw interest, as applicable for savings bank account. The withdrawals from the account would attract interest at 12 per cent per annum. The scheme comes with features such as free personal accident insurance and free collection of cheques received under rural employment guarantee scheme. The scheme provides for preferential treatment to women beneficiaries with a concession of 50 basis points per annum on the interest rate. The beneficiaries would be sourced through the mechanism of "farmers' clubs", to begin with. Other agencies such as post offices, schools, primary health centres and government functionaries would be roped in later to help enlarge the customer base, the release said.
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