Chartered accountants of Tiruchi and Karur districts wanted the State Bank of India to take steps for speedy credit delivery to the borrowers and assured that the chartered accountants would function like a bridge between the bank and the borrowers.
Addressing an interaction meeting organised by the State Bank of India with the chartered accountants here on Wednesday with the objective of building relationship with the auditors fraternity for improved customer satisfaction, V.Jayaraman, Chairman of the Tiruchi branch of the Southern India Regional Council of Institute of Chartered Accountants of India, said that the bank should come forward in deciding the loan proposals without delay to enable the clients (borrowers) to decide their future business activities.
Mr Jayaraman said that the chartered accountants would definitely be a bridge between the bank and the borrowers in all aspects. He pointed out that it was a welcome measure by the SBI by inviting the chartered accountants for developing relationship between borrowers and the bank.
The SBI has now centralised the loan proposal processing activity through its small and medium enterprises (SME) branch and specialised commercial branches to avoid duplication of work at lower level and for quick disposal of loans. The is also undertaking various services including Government taxes including income tax, sales tax, central excise service tax through net and direct banking, he said.
P.J.Thomas, Deputy General Manager (Credit), SBI, Coimbatore, in his keynote address, said that the bank had been processing the applications quickly for lending to small and medium enterprises and appealed to the chartered accountants to provide all details, particularly clear balance-sheet of their clients for speedy credit delivery.
D.Sathyamoorthy, Deputy General Manager (SME), Chennai, said that the industrial, engineering and fabrication units in Tiruchi region were growing despite the recession and pointed out that the SBI would increasing its lending to the industries.
V.Algappan, former chairman of Tiruchi branch of the SIRC of ICAI, H.Thiyagarajan, Assistant General Manager, SBI, P.Karthikeyan, Regional Manager, SBI, Tiruchi and R.Shankaran, Chief Manager, SBI spoke.
The bank officials answered all the queries raised by the chartered accountants during interactive session immediately after the meeting.
Keywords: Credit delivery system