The Hindu Business Line : Exclusive SBI unit for mid corporate clients

THE Hyderabad regional office of the `Mid Corporate Group' (MCG), set up by State Bank of India, was inaugurated by the bank's Chief General Manager, Mr S.K. Bhattacharyya, here on Friday.

MCG has been set up as a separate business unit to focus on the mid-corporate units that have borrowings of up to Rs 5 crore or sales turnover of Rs 25 crore and above.

Speaking to newspersons, Mr Bhattacharyya said that two branches of the bank in Hyderabad have been brought under the direct control of the MCG regional office. These apart, mid-corporate accounts at other branches here and at Vijayawada, Visakhapatnam and Guntur would be handled by the MCG.

He said that 12 Relationship Managers would handle the mid-corporate accounts in the State. They would focus on the banking requirements, selling various products and improving customer service to the mid-corporate units. The time taken for sanctioning loans would be reduced to 15 to 20 days from the present 30 days.

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