Public sector lender Vijaya Bank has set up a retail assets centralized processing cell (RACPC) at Hubli.
The cell has been set up for looking into all basic loan products of the bank.
"The cell will be processing and sanctioning all mortgage based retail loans, like housing loans, v-rent, education loans backed by immovable property," said Mr B.A. Tata, Assistant General Manager, Regional Office, Vijaya Bank, while inaugurating the cell.
"With this, the processing and sanctioning of loans will be speeded up to ensure turnaround time of 24 hours for each proposal from the date of submission of full set of documents as per the checklist," he added.
RACPC would cover as many as 18 branches of the bank in and around Hubli region.
The cell will be operating under Mr Harish K. Shetty, Chief Manager.