NEWS & ADVICE : PERSONAL LOAN
State Bank of Mysore to concenterate on MSME clusters
By Vaibhav Aggarwal
Jul 4, 2012
Print    Email    RSS   
State Bank of Mysore  has adopted a cluster based approach towards its credit strategy to micro, small and medium enterprises (MSME).

Clusters are geographic regions with concenteration of MSMEs. "We have our branches in all the 38 identified clusters recognised by United Nations Industrial Development Organisation (UNIDO) and the Union Ministry of MSME," said Dr. DK Lakshmisha, GM-MSME, State Bank of Mysore.

The bank disbursed loans worth Rs. 3,353.68 crore to micro, small and medium enterprises. The SBI associate bank also opened six specialized branches to meet the needs of small and medium enterprises (SME) clients.

Out of the nine credit processing cells for the SMEs across the nation, five are in the state of Karnataka. "We are in the process of opening more specialised SME branches this fiscal," added Dr. Lakshmisha

Online facilities to apply for loan is also available, and the bank is offering competitive interest rates on SME loans to cope up with the competition.

The bank has created a niche of its own by providing MSME loans upto Rs. 1 crore without any collateral, while the regulations mandate that loans upto Rs. 10 lakh should be offered without any collateral.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #1
BPLR or Base rate?? Which is better…?
Carnival of Indian Personal Finance Blogs #3
Loan upper limit increased for women
How far can new banking licenses be banked...


Surat ℰsℭℴℛt Sℰℛviℭℰ 09958217013,...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive