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Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company.
It became a Public Limited Company in December 1939 and later the name was changed to Dena Bank.
In July 1969 Dena Bank 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.
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 and Customer rating system for rating the Bank Services.
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