Corporation Bank opened its micro small and medium enterprises (MSME) loan centre in Delhi, said a bank release.
Ashwani Kumar, Executive Director of the bank, inaugurated the centre on Monday.
Ajai Kumar, Chairman & Managing Director, recently declared open new MSME loan centres in eight cities across the country. The centres are located in Delhi, Hyderabad, Bangalore, Chennai, Coimbatore, Pune, Mumbai and Vadodara.
The centres have been opened to give a fillip to the bank's efforts to augment flow of bank credit to the SME segment and to contribute to their growth. Each MSME centre is supported by a dedicated team of relationship managers and a central credit processing mechanism.
The bank's portfolio under MSME sector as on March 31, 2012, was Rs.14,542 crore as against Rs.10,707 crore as at March 2011.
The net growth of MSME credit is around 25 per cent and aggregate Rs.2,936 crore. Within the SME sector, the micro and small enterprise portfolio increased from Rs.10,707 crore as at March 2011 to Rs.13,752 crore as at March 2012, a net increase of Rs.3,045 crore (28 per cent), said the release.
