ENA State 2022-07-19 07:33:20 <p><strong>Vijayawada, July 19 (KNN)</strong> Under the partnership with AP Industrial Infrastructure Corporation (APIIC), the Union Bank has agreed to provide easy loans to MSMEs in Andhra Pradesh.</p> <p>The Bank has said that it will avoid delays in loans and facilitate fast approvals as the agreement will enable MSMEs get loan processing completed within 10 days.</p> <p>In the first phase the bank aims to offer loans to MSME at 39 industrial parks and other MSMEs in the next phase.</p> <p><strong><a href="https://news.google.com/publications/CAAqBwgKMJSHqwswkZLDAw/sections/CAQifkNCSVNXRG9pWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjVmWldScGRHbHZia0lhWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjV5RmdvVUNoSkhRVkpCVFU5T1JGOUdWVXhNWDA1QlRVVW9BQSoQCAAqBwgKMJSHqwswkZLDA1AB?ceid=IN:en&amp;oc=3"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>APIIC vice-chairman and MD J Subramaniam described the MoU between the two parties as another step by the corporation towards the greater good of MSMEs under the guidance of Chief Minister YS Jagan Mohan Reddy.</p> <p>In view of availing credit facilities the agreement will help enable the MSMEs to overcome difficulties.</p> <p>The pact was signed by APIIC VC &amp; MD Subramaniam and chief general manager of Union Bank/ SLBC Brahmananda Reddy at APIIC headquarters in Mangalagiri.</p> <p>To carry out the first phase 26 nodal officers from Union Bank and some officers from the APIIC will be appointed in 26 districts for the purpose.</p> <p>Subramaniam directed the officials to organise special conferences and set-up special stalls in the respective zones for creating awareness among the industrialists on the loan facility.</p> <p> The APIIC is playing a crucial role by acting as a bridge between the industrialists and the bankers. The APIIC played a vital role in re-opening/ restarting more than 500 industries belonging to SC and ST entrepreneurs under YSR Jagananna Badugu Vikasam, he said. </p> <p>Union Bank chief general manager Brahmananda Reddy expressed happiness for being a part of providing credit facilities to the MSMEs under this collaboration with APIIC. <em><strong>(KNN Bureau)</strong></em></p> 29897 https://knnindia.co.in/news/newsdetails/state/union-bank-to-offer-easy-loans-to-msmes-in-andhra-pradesh 2022-07-19 07:33:20 knnindia.co.in