Dena Bank was founded o?n 26th May, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd
It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd.
In July 1969 Dena Bank Ltd. along with 13 other major banks was nationalized and is now a Public Sector Bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Under the provisions of the Banking Regulations Act 1949, in addition to the business of banking, the Bank can undertake other business as specified in Section 6 of the Banking Regulations Act, 1949.
Milestones
* One among six Public Sector Banks selected by the World Bank for sanctioning a loan of Rs.72.3 crores for augmentation of Tier-II Capital under Financial Sector Developmental project in the year 1995.
* One among the few Banks to receive the World Bank loan for technological upgradation and training.
* Launched a Bond Issue of Rs.92.13 crores in November 1996.
* Maiden Public Issue of Rs.180 Crores in November 1996.
* Introduced Tele banking facility of selected metropolitan centers.
Dena Bank has been the first Bank to introduce:
* Minor Savings Scheme.
* Credit card in rural India known as "DENA KRISHI SAKH PATRA" (DKSP).
* Drive-in ATM counter of Juhu, Mumbai.
* Smart card at selected branches in Mumbai.
* Customer rating system for rating the Bank Services.
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