Development Credit Bank at Powai

Company Brief

Mumbai, May 13, 2011

Development Credit Bank (DCB) inaugurated the newest branch today at Citi Park, Hiranandani Business Park, Powai, Mumbai. The state-of-the-art branch was inaugurated by Mr Niranjan Hiranandani, Founder & MD Hiranandani Constructions Pvt. Ltd. and Mr Nasser Munjee, Chairman Development Credit Bank.

Mr. Murali M. Natrajan, Managing Director & CEO, DCB, said, "DCB aims to grow the retail banking customer base with a wide range of banking and financial products and services, and also reach out to micro-SMEs and SMEs. Hiranandani Business Park at Powai is a prime corporate and residential hub. It thus offers a great growth opportunity for DCB".

Some of the innovative retail products from DCB include:

• DCB PayLess Card: Offers a host of features and benefits that presents customers with convenience, rewards and financial freedom

• DCB Privilege Banking: Promises the highest level of service standards and the best in banking solutions

• DCB Elite Account: The customer's lucky number becomes a part of their DCB bank account number

• DCB On The Go: Offers instant mobile banking where customers can receive and transfer funds instantly. Customers can also call for an account statement, issue stop cheque instructions, or request for a new cheque book from his mobile phone

DCB products for SME and Corporates include:

• SME Lending: DCB offers tailor-made financial products for the SME sector and has well-established business relationships in major industrial clusters in Ahmedabad, Surat, Rajkot, Ankleshwar and Bhuj amongst others.

• Agri & Inclusive Banking: DCB Sahyog, the bank's rural banking initiative, serves close to 1,100 village institutions, and approximately 6 village clusters. The programme aims at providing financial inclusion to roughly 1.50 lakh households through innovative loan and deposit products. The Dediapada branch, in particular, focuses on microdeposits and savings accounts for low-income groups who had no access to banking previously.

For further information, please contact:

Development Credit Bank Limited

Gaurav Mehta

Mobile: +919870432101

Email: gauravm@dcbl.com