Corporation Bank Launches ‘SME Grand Festival Loan Bonanza’

An Exciting Festival Offer for SMEs

[caption id="attachment_16222" align="alignleft" width="448"] Nagarajan , Deputy General Manager , North Zone , Corporation Bank, Ashwani Kumar , ED,Corporation Bank, K.Giridhar Shenoy , General Manager, Karnataka Circle, Corporation Bank, N.Vijaya Kumar , DGM , South Zone , Corporation Bank at the Press Conference in Bangalore today.[/caption]

Corporation Bank launches SME Grand Festival Loan Bonanza on SME Credit Schemes of the Bank from October 20, 2012 for a limited period. In this connection, Mr. Ashwani Kumar, Executive Director of the Bank  held a press conference at Bangalore on 26/10/2012 in the presence of Mr. K Giridhar Shenoy, General Manager, Bangalore Circle and other Executives.

 The ‘SME Grand Festival Loan Bonanza’ is specially launched for the benefit of the SMEs for the ongoing festival season. The various offers are as follows:

 Interest Rate Concession of 0.50% on the applicable rate on all the SME Credit Scheme Offered by the Bank.

 Additional Interest Rate Concession of 0.25% for Women Entrepreneurs.

 50% concession on Processing Charges.

Addressing the media Mr. Ashwani Kumar, Executive Director  said that the Festival Bonanza is offered on Ten SME Credit Schemes offered by the Bank. To encourage entrepreneurs, Bank offers various specialized and tailor-made credit schemes suiting their credit and business requirements. The various SME Credit Schemes offered by the Bank are  Corp SME Tex Plus Scheme, Corp Term Plus Scheme, Corp SME Auto Plus Scheme, Corp SME Liquid Plus Scheme, Corp SME Gold Card Scheme, Corp SME Receivable Funding, Corp Commercial Vehicle Loan Scheme, Corp Collateral Free Loan Scheme, Corp SME Credit Card Receivable Funding and Corp Laghu Udhyami Credit Card Scheme.

 With a view to catering to the SME segment in a big way, the Bank launched exclusive SME Loan Centres in 14 cities across the country. The centres are located at Delhi, Hyderabad, Bangalore, Chennai, Coimbatore, Pune, Mumbai, Vadodara, Kolkata, Mangalore, LudhianaChandigarh, Ahmedabad and Kochi. Each SME Centre is ably supported by dedicated team of Relationship Managers and exclusive Central Credit Processing mechanism.

[caption id="attachment_16223" align="alignleft" width="412"] Ashwani Kumar , ED,Corporation Bank, K.Giridhar Shenoy , General Manager, Karnataka Circle, Corporation Bank, N.Vijaya Kumar , DGM , South Zone , Corporation Bank[/caption]

Along with the Customer Centric approach, Corporation Bank aims for focused growth by adopting a targeted marketing approach that would help entrepreneurs convert their business blue print into a reality not only at a competitive cost but in the shortest possible time.

We have so for sanctioned 2000 crore worth loans to SME’s over a period of 6 months in which 45% contributes to Karnataka and our target is to sanction Rs. 5300 crore during this campaign ie till January 31st 2013 he added.

 Corporation Bank was the recipient of the “National Award for Excellence” by the Ministry of Micro, Small and Medium Enterprises, Government of India, for lending to Micro Enterprises for 2010-11. The Bank recently bagged the Best Mid Size Public Sector Bank (Commendation) Award at “India Best Banks and Financial Institutions Awards 2012” by CNBC-TV18 & MCX Stock Exchange (MCX-SX). The Award was received by Shri Ajai Kumar, Chairman & Managing Director of the Bank from Shri C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council on October 17, 2012.

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