Vijaya Bank to centralise retail, MSME loan processing for quicker sanctions

By | March 19, 2011

A recent press report said that Vijaya Bank has planned to centralise its loan processing activities under the retail and MSME segments, so as to reduce the turnaround time in sanctioning loans. Mr. H.S. Upendra Kamath, Chairman and Managing Director of Vijaya Bank said that the bank is planning to strengthen the credit delivery mechanism under the retail and small and medium enterprises (SME) segments. He said that the bank wants to build up capabilities within the bank so that it can boost up its retail (Personal Loan, Home loan etc) and MSME segment operations.

The bank has recorded a growth of 22 per cent in its Micro Small & Medium Enterprises (MSME) segment whereas the retail portfolio of the bank was at 8.2 per cent only during the 2010-11 fiscal.

Mr. H.S. Upendra Kamath said that the bank has planned to increase its retail portfolio up to at least 20 per cent in the current year, and the MSME advances to 30 per cent.

He also said that the bank will ensure that there is more concentration on the retail parameterised loan products rather than only mortgage-based products. He added saying that the bank does not have a centralised set-up for MSME advances at present but will be created in a year.

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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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