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Since the launch of the “Credit on Wheel” programme in December 2013, Bank of Baroda, Tamil Nadu region has managed to add ₹125 crore to its advances portfolio.
“The initiative aims to accelerate credit by reducing the turn-around time and making the decision making process faster,” Regional Manager of Tamil Nadu Region of Bank of Baroda V Murugan told BusinessLine .
“Credit proposals are discussed across the table and decisions taken rather quickly,” he explained.
To identify the credit requirement, the bank organised credit camps at industrial clusters such as Erode, Tirupur, Madurai, Rajapalayam and Thenkasi, meeting people at their place.
Tamil Nadu region comprises 103 branches across 26 districts. “This is to be bifurcated into Coimbatore and Madurai regions soon,” he said.
The bank already operates two specialised SME loan factories in this region in Madurai and Coimbatore.
On expansion of branch network in this region, he said, “We will be adding four new branches — at Annur, Dharapuram, Arupukottai and Anuparpalayam — by November and another five before March 2015.”
On the proposed launch of Adarsh Grameen Branch, he said one such branch was under consideration in Tamil Nadu at Othakalmandapam near here.
The Bank’s Chairman and Managing Director SS Mundra had made this announcement some time back. He had then stated that the Adarsh Grameen Branch will be constructed by the bank on its own plot in rural areas and will include branch premises, manager’s residence and assembly area, where various activities such as agri-clinic, vocational education and medical camps would be organised from time to time. Murugan said that the plot of land for establishing the Grameen branch was in advanced stage of negotiation.
BoB is planning 56 such Adarsh Grameen branches across the country.
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