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Indian Bank operationalizes 73 SME branches

New Delhi, Sep 24 (KNN) The Indian Bank has operationalized 73 special small and medium enterprise (SME) branches across various zones for enhancing the portfolio of the sector in a focussed manner.   

Further, “Indian Bank is focussing on cluster financial approach and has formulated various schemes across the country to take care of specific requirements of the clusters,” said Chairman and Managing Director, Indian Bank TM Bhasin.

Keeping in view that micro, small and medium enterprises (MSMEs) contribute substantially to the gross domestic product (GDP) growth, employment generation and exports, the Indian Bank has come up with such a multi-pronged strategy.

It includes considering all types of fund and non-fund based credit limits to take care of all long, medium and short term credit requirement of MSME units.

Further, it also provides special concessional pricing introduced for trade finances under priority sector.

The bank has eight structured products to cater to different profiles of SME customers. It has simplified the loan application form and disposes it timely.