The Hindu Business Line : Canara Bank unveils SME Sulabh

Canara Bank has launched ‘SME Sulabh’ a new business model for increasing credit flow to the Micro, Small and Medium Enterprises (MSME) sector. SME Sulabh centralised processing centres are established initially at seven places in Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Hyderabad and Mumbai. The centres will aim at fast processing and quick delivery of credit to MSMEs and are equipped with specialised marketing and credit appraisal teams and would di rectly receive, process and sanction the credit proposals in a time bound manner. With this approach, the turn around time for MSME credit proposals is reduced substantially. The bank has proposed to reach out to a large number of MSMEs at major centres in the country. The bank has proposed to expand the network and establish SME Sulabh at eight more centres in Kolkata, Lucknow, Agra, Chandigarh, Hubli, Thiruvananthapuram , Madurai and Pune. The bank has taken various initiatives, including opening of 38 specialised SME branches, across the country for increasing credit flow to the MSME sector. Canara Bank’s outstanding credit to the sector has increased from Rs 18,600 crore to Rs 23,823 crore during the financial year 2008-09, recording a growth of 28 per cent.

— Our Bureau

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