New Delhi, Wednesday, 12th July, 2007:
Development Credit Bank Limited, one of India’s
fastest growing private sector banks, today
launched X-Gen banking in New Delhi, designed
specifically to suit the varying needs of the
student community.
This innovatively planned facility comes with
a rich array of features and benefits that address
every aspect of a student’s life –
from entertainment to shopping, to health and
educational options. The launch of this product
will give the Bank the added advantage to reach
out to the millions of students across the country,
and further expand its profile of customers
as well as its national footprint.
Says Mr. Gautam Vir, MD & CEO, DCB, “We
are a customer-oriented bank and we have taken
great care to ensure that X-Gen meets every
need of the new generation. Similar to our other
offerings like the DCB TRIO and Free Style Savings
Account, X-Gen is also an innovatively put together
package. We have carefully evaluated the behavioral
patterns of today’s youth, and are confident
that this product will give students greater
flexibility and ease in banking.”
DCB unveiled its new offering to the students
of local schools in New Delhi by way of a quiz
contest. The winners were presented with certificates
and exciting prizes from DCB. The quiz contest
saw great enthusiasm from the student community
with many schools participating in the contest.
Mr. Vir gave away the prizes to the winners
at the X-Gen launch.
X-Gen comes with a zero-balance savings account,
free international debit card, personalized
chequebook, Internet and mobile banking facilities.
The specially designed X-Gen card also offers
discounts at various strategic outlets like
bookstores, apparel stores, restaurants, music
stores, gyms, and vocational courses. In addition
DCB would maintain regular e-mail interaction
with students through a monthly X-Gen newsletter
with topical news items and articles of interest
to students. The X-Gen product also offers attractive
interest rates on the Fixed Deposit with a minimum
amount of Rs. 30000. At an annual membership
of Rs. 200, X-Gen has been attractively priced
and positioned to appeal to its target customers.
DCB is already providing retail loan products
such as Working Capital loans and Easy Business
loans to cater to the financial needs of the
SME segment. It has been focusing on expanding
its reach along the Western corridor of India,
and recently acquired an RBI nod to open 8 more
branches across the country. With the launch
of this product, DCB will now also attend to
the increasing younger population of India.
Development Credit Bank Limited (DCB) is one
of the fastest growing Private Sector Banks in
India providing its customers access to over 18,000*
ATMs and 72 state-of-the-art branches and extension
counters spread over nine States and two Union
Territories. DCB also offers a full suite of Fixed
Deposit, Current Account and Savings Account products
to its customer. As of 31 March 2007, DCB’s
deposit base was Rs. 4415.20 crores and the advances
were over Rs. 2658.52 crores.
