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Corporation Bank plans `loan factories'

COIMBATORE: Corporation Bank plans to set up `loan factories' in 11 centres by December, initially for home loans. According to the Chairman and Managing Director of the bank, B. Sambamurthy, these `factories' will process the loan applications and one of the objectives is to bring down the processing time. He told presspersons here on Wednesday that one such facility would be established in Coimbatore too. A similar centralised processing facility for agricultural loans was planned in Hassan on a pilot basis.

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