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Our Bureau

Coimbatore , Aug. 5

STATE Bank of India has put into operation its small enterprises credit cell (SECC) for Coimbatore on Friday.

The SECC being ushered in by the bank as part of its business process re-engineering is intended to cut down the turn-around-time (TAT) in processing the credit requisition received from the small enterprises.

The loan processing will allow the cell to take over the back-office work of the branch receiving the credit requisition from the small enterprises and complete the entire process of valuation, appraising project, sanctioning of loan and executing document by itself before allowing the branch for formally releasing the loan sanctioned.

The SECC has set the turnaround time for the loan sanction as eight days from the date of receipt of loan requisition.

The Coimbatore SECC, located at its zonal office, was inaugurated by Mr P. Chaudhuri, Chief General Manager, SBI Local Head Office, Chennai.

In a brief chat with newsmen later, Mr Chaudhuri said that his bank which is already operating SECC in Chennai, Madurai and Tiruchi, is looking at expanding the new business model to serve the small businesses to Tirupur, Karur and Pondhicherry, subject to the business potential available for undertaking such operations.

According to Mr C. Jeyasooria, Assistant General Manger, SBI Coimbatore (Region I), nine branches in Coimbatore have been identified and the credit marketing done by these branches would be handled through the SECC.

Credit requisition up to Rs 5 crore received from the small enterprises would be processed by the SECC.

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