CICU meets Bank of Baroda team to discuss MSME related issues

New Delhi, 22 Nov (KNN) Chamber of Industrial & Commercial Undertakings (CICU) organised a meeting of Members with Bank of Baroda Team.

Upkar Singh Ahuja, President CICU while welcoming Vimal Kumar Negi, Zonal Head-Bank of Baroda, Chandigarh, Vipin Kumar, Regional Head-Bank of Baroda, Ludhiana and senior officials of Bank of Baroda, raised the issues of tedious documentation involved in loan processing, said the release.

The Bank officials expressed agreement and responded in favour of resolving the issue as early as possible.

A briefing took place of members about some very lucrative schemes offered by Bank of Baroda for MSME Industries.

They were informed about the special schemes which have been made for MSMEs like Contractors, Restaurants, and Business Correspondents etc.

The rate of interest starts from 6.55% per annum and in case of all documents available on applying online, any unit can get sanction of loan within 59 minutes, as per the release.

Further, members raised the issues of Loan under PMEGP Scheme & for Cluster under MSECDP Scheme.

Bank Officials agreed to address these issues also and assured the CICU Members that excellent service will be provided to members in all branches of Bank of Baroda and in case they come across any issue related to Bank, they can contact Rajesh Gaba, Chief Manager, SME Branch, Industrial Area-B, Ludhiana.   

The meeting was attended by more than 60 Members namely S.B Singh, Joint Secretary, Honey Sethi, Organizing Secretary, Sarvjit Singh and Gautam Malhotra, Didarjit Singh, Vice President CICU and other prominent members were present in the meeting.