Pudukottai to get IOB's model SME branch

Chennai, Feb 6 (KNN)  In a bid to provide speedy service to small and medium enterprises, the Indian Overseas Bank (IOB) is planning to set up a model SME branch in Pudukottai.

The move which is in keeping with RBI’s guidelines to set up an SME branch where a Lead District Manager (LDM) office is located is expected to provide a fillip to industrial growth in the district.

Elaborating IOB’s plans, Senior Regional Manager of the bank, Karaikudi region, P Madhavan said that the LMD and SME would work together to enhance the growth of the small and medium enterprise sector.

IOB also plans to start branches in the coastal villages of Kattumavadi, Manamelkudi, and Ichchadi.

Earlier, IOB had opened the first ever Special Financial Inclusion Branch in Keeranur which was inaugurated by the Finance Minister on January-12.  The bank however is not customer-oriented branch as it will deal with customers through business correspondents in villages.  (KNN/ES)