Canara Bank to have a separate banking window to increase credit flow to MSMEs
Updated: Feb 17, 2017 07:14:39am
Canara Bank to have a separate banking window to increase credit flow to MSMEs
Tirupur, Feb 17 (KNN) Canara Bank is planning to open a separate banking window in the district in order to increase financing to the Micro, Small and Medium Enterprises (MSME) sector.
Through the new channel, the MSMEs can directly send their credit proposals and subsequently monitor the processing and sanctioning of the eligible credit applications in a time-bound schedule.
“An official in the rank of Assistant General Manager will be heading the special wing meant for MSME credit disbursal in Tirupur district”, said Executive Director of Canara Bank P. V. Bharathi, as quoted in a media report.
There will be specialised marketing and credit appraisal teams to ensure faster reach out to MSMEs and turnaround time been reduced substantially.