Corporation Bank to open 9 more SME loan centres this year

Corporation Bank will open nine more SME (small and medium enterprises) loan centres by the end of the current financial year.

Inaugurating an SME expo in Mangalore on Saturday, B.K. Srivastav, Executive Director, said the bank has 16 SME loan centers across the country. The intention is to take the total number to 25 by March 2014.

He said the bank is expecting not less than 30 per cent growth in the SME portfolio from these loan centers during the fiscal.

Speaking on the occasion, Suresh Bhat, Director of Science and Technology Entrepreneurs’ Park (STEP) of the National Institute of Technology Karnataka (NITK), said banks should meet the financial requirements of budding entrepreneurs.

Responding to this suggestion, Srivastav said Corporation Bank could enter into a tie-up with NITK-STEP to help entrepreneurs. If NITK-STEP mentors and supports the entrepreneurs, Corporation Bank could extend them financial assistance, he said.

vinayak.aj@thehindu.co.in

Source: thehindubusinessline