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Wednesday, July 4, 2012

Online tracking to speed up Vijaya Bank’s loans disbursal

Public sector Vijaya Bank has introduced online registration of application and tracking to facilitate speedy clearance of projects under micro and small enterprises.

“Through this we have achieved faster processing of MSE applications. We are also encouraging anybody approaching us to opt for online filing of their application and also upload certain document for easier and faster transactions,” said Ms Shubhalakshmi Panse, Executive Director, Vijaya Bank. The bank also initiated regular ‘MSME Melas’ to push to get larger share of MSE disbursal of loan.

During the year 2011-12, about 44 such melas were held in different parts of the country. Through these melas, bank was able to sanction Rs 353.26 crore and disburse Rs 165.43 crore.

According to Mr K.V. Brahmaji Rao, General Manager, Retail & MSME, Vijaya Bank, “At the mela, we sit across the table and disburse working capital, bank guarantees, Letters of Credits and term loans for expansions.”

To service MSME banking requirements, it has set up eight exclusive cells -- at Ahmedabad, Delhi, Mumbai, Hyderabad, Chennai, Pune and two in Bangalore. During 2011-12, it has sanctioned 314 loans worth Rs 711.08 crore through these MSME cells.

Ms Panse said: “This financial year, we will be opening three more MSME cells one each at Raipur, Kolkata and Coimbatore.”

With renewed efforts, the bank’s advances to micro and small enterprises has seen an increase of 28.10 per cent to Rs 7,272 crore as on March from Rs 5,677 crore as on March 2011. In line with the directive of Reserve Bank of India that advances under micro enterprises have to be 55 per cent of MSE advances as at March, Vijaya Bank has achieved 42.53 per cent for 2011-12.


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