R ARIVANANTHAM
MAMALLAPURAM (CHENNAI), JUNE 7
Tamilnad Mercantile Bank Ltd (TMB), one of the leading private bank in the nation has on Monday unveil its first MSME Hub in Chennai. Inaugurating the dedicated MSME Hub Chennai to serve over 60 branches in Chennai and its surrounding districts and the Union Territory of Pondicherry, S Krishnan, MD & CEO, Tamilnad Mercantile Bank Ltd said the hub will cater to the timely needs of MSME customers, reduction of turnaround time and help to increase the MSME portfolio of the bank.
The bank aims to open other MSME processing hubs in Tamil Nadu in Coimbatore, Madurai and Thoothukudi shortly during the first quarter of the current FY. During the second quarter, the Bank also aims to start MSME hubs at other centers pan-India.
Relationship Managers attached with the MSME Hubs will be assisting the customers end-to-end for the loan disbursement right from sourcing the proposal. These services will cover 200 branches in Tamil Nadu in the initial phase, he added. The MSME hub will ensure efficient delivery of services and products to MSME customers. The hub has been opened in order to segregate sourcing of proposals and credit decisions, ensure qualitative improvement in credit appraisal and sanction, maintain uniform appraisal standards, maintain high standards of assessment quality, reduce credit sanction turnaround time (TAT) and adhere to transparency and compliance in MSME lending.
An officer in the rank of AGM with rich experience has been appointed as MSME Hub Head, who would concentrate on quick credit needs of MSME sector. Replying to a query, he said that the TAT of disbursement of credit is maximum of 48 hour.
Krishnan said, “MSMEs are the growth engine of the Indian economy and form a very important component of our growth strategy. It is imperative that we extend our support to MSMEs by focusing our products and services to serve them the best. By establishing MSME processing hub in centres that are the hot-bed of MSMEs, we commit to focus better on credit expansion with credit quality.”
He also distributed loans to few MSMEs attached to different branches in around Chennai.
TMB has a long cherished history of 100+ years of eventful existence with strong fundamentals and an enviable track record of continuous profit making in the industry. The Bank has a pan-India presence with 533 branches and 12 Regional Offices across 17 states and 4 Union Territories and serves more than 5 million delighted customers.
