Special Correspondent

Panaji: As a major service initiative, the Syndicate Bank recently introduced online application facility for its loan schemes for students, traders, small and medium enterprises (SMEs), housing loans and vehicle loans, to enable the customers to seek credit facilities at the click of a mouse.

“This novel facility has got tremendous response from our clients,” said J.S. Shenoy, regional manager, Syndicate Bank, here on Wednesday. The bank would eventually expand online facility to all the sectors, he said.

Mr. Shenoy said that its “Synd Sona” scheme of selling gold coins to the public had evoked tremendous response in Goa as well. At all-India level, the bank so far had sold over 200 kg of gold, he said.

Under this scheme, coins were made available at competitive rate in a temper-proof Assay-certified packaging with assured purity of 99.99 per cent, he said. The bank had opened around 16,500 “no-frills” accounts in Goa under the inclusive banking plan, Mr. Shenoy said.

As for Goa, Mr. Shenoy said the bank was presently giving a major thrust on expanding its credit coverage to SME sector.

He said Panaji Region had total business of Rs. 1,324 crore with deposit amounting to Rs. 1,062 crore and advances of Rs. 262 crore as on September 30 this year.