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UBI opens 100 MSME branches

Started by sajiv, Dec 25, 2008, 09:02 PM

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Union Bank of India has set up 100 specialised branches catering to the needs of MSME sector.Talking to reporters here on Wednesday, UBI general manager P Y Nagar said these branches were being supported by centralised processing facilities called ‘SME sarals’ which were equipped with specially trained staff including credit analysts and technical officers.

‘To reinforce branch segmentation, the corporate office departments are aligned according to business lines or verticals,’ he said. These branches would function under the direct guidance of the MSME department at corporate office headed by a general manager.

He also said that proposals were discussed using the video conferencing facility to reduce proposal processing time.

These measures would enable the bank to commit a turnaround time of two weeks to sanction proposals in this segment.

‘The MSME branches are meant for customers in this segment with limits upto Rs 35 crore or having a turnover of less than Rs 1,000 crore,’ he said. It may be recalled the bank’s Chennai zone has 15 such specialised branches spread across Tamilnadu and Kerala. Chennai city alone has six such branches supported by SME saral.