Public sector lender, Bank of India has planned to focus on the needs and requirements of small and medium enterprises. The bank has thus launched customized products to meet the cash flow cycles of this sector, said Mr N. Seshadri, Executive Director, BoI.
He said that the bank has set the goal of speeding up loan approvals to the SME sector.
He confirmed the launch of four new products customized the needs of SME segment-Star SME Contractor Credit Line, Star SME Auto Express, Star SME Liquid Plus and Star SME Education Plus.
As part of the financial inclusion drive, the bank would be covering about 110 villages in Tamil Nadu, said Mr Seshadri.
The main areas of focus for the bank have been identified as Coimbatore, Tirupur, Erode, Avinashi, Chengapalli, Ganapathipalayam and Pollachi.