State wise list of Dena Bank IFSC code, MICR code and addresses of all branches in India
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An IFSC code is made up of 11 characters and is an alphanumeric code. The first four characters are the name of the bank, the fifth character is always zero (it is left blank for future use), while the last six characters are the numbers representing the bank branch. An example of an IFSC code for a Dena Bank branch in Bandra, Mumbai city is BKDN0460144. Here, “BKDN” represents the bank name, the fifth character is zero, and the last six characters, “460144” represent the particular bank branch in Bandra, Mumbai city, Maharashtra.
It is now very easy to send funds electronically with Dena Bank providing NEFT and RTGS services. With these services, you can transfer money to accounts in other banks without having to go through painfully long queues or wait for days for the money to be transferred. NEFT allows for safe and easy online money transfer in a few quick steps. A service initiated by the Reserve Bank of India (RBI), NEFT or National Electronic Funds Transfer can be used by any customer of the bank. To facilitate a fund transfer, an IFSC code of the recipient’s bank is to be used. This Indian Financial System Code (IFSC) is issued to every bank branch in the NEFT network by RBI, and is used to regulate the transfer of funds made electronically. It is also useful in determining the origin and the destination banks in the particular transaction.
Finding out a bank branch’s IFSC and MICR codes is a very quick and easy process. The code for particular is printed on the leaves of a cheque book issued by a bank branch. The codes are also listed on the Dena Bank website. Another way to find out a particular bank branch’s IFSC code through websites like BankBazaar. The process would be very simple, where all you have to do is go to the homepage of the site. Once there, scroll to the bottom of the page and click on the “Bank IFSC Code” tab. You will be taken to a page where you will be asked to input the name of the bank. Here, you would select Dena Bank. Once you have entered the name, you would be asked for details such as the state, district and the particular branch from drop down menus. On providing all the details, you would be presented with the IFSC Code and the MICR code for the particular branch.
You can transfer funds using the NEFT and RTGS facilities offered by Dena Bank, making your money transfer much easier. This is a safe and efficient way to transfer money to an account anywhere in the country. Below are ways you can avail these two services.
NEFT (National Electronic Funds Transfer):
NEFT services can be availed by Dean Bank customers from Monday to Saturday from 8:00 am to 7:00 pm. This facility is not available on the second and fourth Saturdays. The facility is available on an hourly basis, with the recipient’s account receiving the credit on the same day. In case of holidays or for transactions made after business hours, the credit would be done on the following business day.
NEFT is a favourable choice for those customers looking at making fast and secure fund transfers. This service has no lower limit or ceiling for transactions, meaning customers can send any amount across to a recipient’s bank account anywhere in the country. Dena Bank allows both account holders as well as those who do not have an account with them to use the NEFT facility.
Dena Bank levies certain charges for the facility, which are as below:
All of the rates mentioned are inclusive of service tax.
RTGS (Real Time Gross Settlement):
RTGS is a service through which customers can transfer amounts from one bank account to another electronically. It is the quickest way to transfer money within the country. RTGS allows for quick and safe online fund transfer on a real time basis. This implies that the fund transfer takes place as soon as the request is processed. The transfers take place on a ‘gross’ basis, implying that the transaction is processed separately, without being bunched with other transactions. These transactions are final and irrevocable, meaning once the request goes through, it cannot be taken back/cancelled.
RTGS facility is offered by Dena Bank, but the minimum transaction for such a money transfer is Rs. 2 lakh. There is no upper limit on the amount that can be transferred. RTGS services are available for Dena Bank customers from Monday to Saturday from 8:00 am to 4:30 pm. However, this facility is not available on second and fourth Saturdays.
The charges levied by Dena Bank for this facility are as follows:
These rates are inclusive of service tax.
Dena Bank is a public sector bank headquartered in Mumbai. Originally called the Devkaran Nanjee Banking Company, it was established in the year 1938. It was called Dena Bank in 1939, and was nationalised in 1969 by the Indian Government. The bank has over 1,700 branches across the country and is expanding its reach. It provides a range of banking and financial services to its customers, like loans, deposits, international and commercial banking. As a public sector bank, it also offers services like direct tax collection.
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Dena Bank has opened its first branch in Dimapur after the new branch opening at Imphal. The bank is planning to provide a 24/7 lobby that will include an ATM, cash deposit, passbook and check deposit machines. The chairman and managing director of Dena Bank will also announce the upcoming branches in Mizoram and Arunachal Pradesh in the near future. The bank is currently listed as one of the top-ten most trusted banks, with these new branches and expansion, the bank is aiming at growing their customer base. Dena Bank offers an extensive range of banking products and services to individuals as well as businesses.
20th March 2017
Dena Bank Ltd. posted a net profit of Rs.35.31 crore in the third quarter of the FY-2016. The bank saw a loss of Rs.662.58 crore for the same period last year. A contributing factor to the bank’s increased net profit for the third quarter of the FY-2016 was the fact that it reduced its provisions. According to a Bloomberg analyst the bank was expected to post a net profit of approximately Rs.82.40 crore. The Net Interest Income (NII) of the bank rose 17.55% from Rs.566.49 crore in December 2015 to Rs.665.91 in December 2016. Other incomes more than doubled since December 2015, from Rs.163.06 crore to Rs.408.63 crore in December 2016. The Gross Non-Performing Assets (NPAs) rose 4.40% from Rs.10,824.50 crore in September, 2016 to Rs.11,301.78 crore in December, 2016. The bank reduced its contingencies and provisions by 10.66% to Rs.484.43 crore from Rs.542.25 crore in the second quarter of 2016. The Net NPAs of Dena Bank rose to 9.52% in the third quarter from 8.93% in the previous quarter. The NPAs of Dena Bank stood at 6.68% for the third quarter of 2015. At the end of the third quarter of the FY-2016 the Provision Coverage Ratio of Dena Bank stood at 51.61%.
10th February 2017
Dena Bank, India’s public sector lender has cut the interest rates on various domestic term deposits by up to 0.5%. The new interest rates took effect from 21st November. For domestic term deposits whose maturity ranges between 180 days to 271 days the interest rate has been cut by 0.5%, bringing the interest rate to 6.5%, for domestic term deposits ranging between 271 days to 2 years the interest rate has been cut by 0.25% bringing the interest rates to 7%. The cuts in interest rates have come in light of the demonetization of the Rs.500 and Rs.1,000 currency notes, due to which individuals are remitting their cash to the banks. Due to the large amount of deposits being made, the liquidity surplus in banks has seen a rise, thereby, the banks have been forced to reduce the interest rates on deposits. The lowering of the fixed deposit rates is expected to bring down lending rates in the future.
21st November, 2016
The state-owned Dena Bank in Maharashtra has signed an MoU with Mahila Arthik Vikas Mahamandal (MAVIM) to finance various women self help groups (SHGs). As per the pact, MAVIM will act as a business facilitator to coordinate with Dena Bank and community managed resource centres (CMRCs).
Initially the scheme will be implemented on a pilot basis in the districts of Pune, Sangali, Nashik, Nandurbar, Aurangabad, Jalgaon, Dhule, Parbhani, Kolhapur, Satara, Ahmednagar and Jalna. MAVIM will organise women from the backward sections of the society to form SHGs, impart financial training and literacy, and guide them in connecting with banks to organise their savings.
1st September, 2016
Dena Bank has entered into partnership with CNX Corporation Limited for getting Security Management Services for funding agriculturalists, processors, retailers and professionals against receipt pledges issued from warehouse. A Memorandum of Understanding between the General Manager of the bank, Mr. K C Chhipa, and the Managing Director of CNX Corporation, Ms. Nirupama Pendurkar sealed the deal. The scrip commenced at INR 41.1 and passed a high and low of INR 41.5 and INR 40.75 in that order. A net stocks of 321779 (BSE + NSE) were transacted on the counter. The prevailing market cap of the firm is a proud figure of INR 2655.24 crore. Dena Bank has attained a commendable repute in the field of electronic banking in the last decade as majority of their clientele rely heavily on NEFT and RTGS with the help of IFSC Code for their daily banking.
28th January 2016
Dena Bank has signed a MoU with JCB India for its equipment financing business. The business is expected to lend a significant support to the Banks under MSME section. In recent times, Dena Bank introduced an exclusive plan for equipment financing business. This scheme offered by Dena Bank is very competitive in terms of interest rate which varies between 9. 70% to 11. 70% and tenure options which can be extended to 7 years. Dena Bank also offers internet banking facilities for the benefits of its customers where options for managing accounts and transferring funds are provided. Customers just have to provide the beneficiary account number, beneficiary bank IFSC code and amount to be sent to make an online fund transfer via NEFT.
24th December 2015
Dena Bank is a premier public sector bank, boasting of a pan-India network of 1750 branches and 1450 ATMs with its headquarters in Mumbai, the financial capital of the country. Its key goal as of now is to attain sustainable development by venturing into semi-urban and rural regions as affirmed by a bank representative. According to the Bank Chairman and MD, Mr. Ashwani Kumar, they are receiving good business from these areas and want to cash in on that as they have already viewed saturations in tier-1 and tier-2 cities. Lately, they established a new branch in Akhol Moti village in Gujarat, and the initial day business itself was around INR 10 crores. The plan to open more than a hundred new offices this financial year has been almost attained. The shove is being given to Gujarat only because the bank get over 30 percent of business from that state. The customers can make use of their online fund transactions facility via NEFT and RTGS. All you need to know is the account numbers and the specific IFSC Code.
15th December 2015
There was an advancement of 2 percent in Dena Bank’s stocks due to reports of its tie up with the Micro Units Development and Refinance Agency (MUDRA) Bank. The pact was signed between MUDRA Bank and Dena Bank in order to enable financing for small businesses and new entrepreneurs.
In the current financial year to promote the growth of small businesses, the government has plans to provide a finance of up to Rs.100, 000 crore.
Dena Bank’s stock is now at Rs. 45.90 having increased by 2 percent. Trading for about 29,000 shares have been seen as opposed to 78,000 shares on BSE which is the two-week daily average. In the meantime, a Sensex jump of 51 points has been seen, touching Rs. 27,780.
Owned by the Government of India and headquartered in Mumbai, Dena Bank offers various services such as online banking, quick and easy e-transfer of funds through IFSC codes. Mudra Bank is a public sector bank that offers loans at low rates to micro finance institutions amongst others.
4th December 2015
Recruitment should be streamlined and must entail proper training programme to provide them a decent understanding of different tasks. This point was raised by Mr. R.K. Takkar, the Executive Director of Dena Bank. This step has to be taken urgently as the banks cannot afford an awareness gap when they need bank staffs that can guide people smoothly through any financial decision, especially the intricacies of online money transactions using IFSC Codes. This was said in a meeting in Hyderabad where he had dropped in to attend the inaugural functions of two new branches. He expressed his disappointment that even those with 5+ years’ experience lack relevant knowledge and exposure. Hence there is a shift in focus. Dena Bank is encouraging other banks in organizing more professional development programmes along with the regular training programme.
25th November 2015
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