• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

HYDERABAD, June 27

GLOBAL Trust Bank (GTB), the Hyderabad-based private sector bank, has announced the launch of `Unnati' - a special product customised for the small and medium enterprises (SME) segment.

The product was launched by the Karnataka Chief Minister, Mr S.M. Krishna, on Wednesday in Bangalore in the presence of the Infosys Chief Executive Officer and Managing Director, Mr Nandan Nilekani.

In a press release, the bank said the new product would offer timely and need-based credit, apart from fulfilling the banking needs of SMEs.

These include cash credit, overdrafts, term loans, inland bill discounting, bank guarantees and letter of credit. All these services would be delivered to SMEs through superior technology and world-class service, the bank said.

The GTB Managing Director, Mr Sudhakar Gande, said: "Our study of the SME segment showed that the progress of companies with an annual turnover of Rs 1.5 crore to Rs 15 crore was hindered due to the absence of timely banking credit and expertise. GTB's `Unnati' specifically focuses on catering to the needs of the SME segment and will offer them the facilities that will take care of their financial needs and help them grow their business.''

Coinciding with the launch of the new product, GTB has set up a strategic business unit (SBU) at Bangalore dedicated to servicing the SME segment.

To begin with, the new service would be made available in ten cities that include Bangalore, Hubli, Mysore, Mumbai, Pune, Chennai, Coimbatore, Kochi, Vijayawada and Secunderabad, the release said.

Send this article to Friends by E-Mail

Stories in this Section
Re strengthens; gilts bullish

Copyright © 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line