Corporation Bank has planned to thrust on small, farm sectors

By | March 29, 2011

A recent press report said that Corporation Bank has focused on MSME (micro, small and medium enterprises) and agriculture sectors for growth during the current financial year. Mr Ramnath Pradeep, Chairman and Managing Director told the press that the bank desires to register 25 per cent growth in advances during the current financial year and would focus on agriculture and MSME sectors to achieve this in order to achive the growth in advances. The bank offers home loan, auto loan, personal loan etc.

Mr Pradeep told the press that the bank wants to register 25 per cent growth in advances during the current financial year and will focus on agriculture and MSME sectors to achieve the growth in advances.

He added saying that the bank has planned to tie up with industry associations’ forthe MSME sector and the tie up associations will help the bank identify customers and complying with their requirements. He also said that most of these units will be covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises and the bank will identify 100 branches for SME lending.

Mr Pradeep said the bank has planned to extend financial assistance to organic farming and for this purpose it has entered into an agreement with the Karnataka Government.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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