The South Indian Bank launched a MSME online portal providing instant online ‘In Principle’ approval of up to ₹1 crore.
MSME enterprises are the most important pillars of the economy and the government is working towards making the sector stronger. This development is at the backdrop of central government considering to make India a $5 trillion economy.
South Indian Bank is facilitating MSMEs to get instant funds. This initiative will help thousands of micro and small businesses avail loans quickly.
Murali Ramakrishnan, MD & CEO, South Indian Bank said, “India is a hub for MSME’s and we are truly determined to serve this sector by providing instant facility. This initiative will help domestic sector to achieve their dream of scaling up businesses who had difficulty in securing loans.