With a view to encourage substantial credit offtake in the crucial MSME sector Vijaya Bank has reduced interest rates on MSME loans upto 1% across the board. This will come into effect from September 1, 2012. Further, in order to encourage the MSME units to go for rating by accredited external credit rating agencies, the Bank has also offered incentives to them by way of a further reduction in rate of interest ranging from 0.25% to 1% depending upon the ratings obtained. The Bank had also offered reduction in rate of interest for MSME ranging from 0.25% to 1.50% in February 2012.
Vijaya Bank has identified MSME sector as a thrust area and the Bank has recorded an annual growth under this segment by 22.43% for the year ending March 2012. The Bank is focusing on accelerated lending to MSME as hitherto. Already several MSME melas have been conducted and the bank has also implemented “E-tracking” of MSME for online loan applications.
Sourced From: Vijaya Bank
Vijaya Bank has identified MSME sector as a thrust area and the Bank has recorded an annual growth under this segment by 22.43% for the year ending March 2012. The Bank is focusing on accelerated lending to MSME as hitherto. Already several MSME melas have been conducted and the bank has also implemented “E-tracking” of MSME for online loan applications.
Sourced From: Vijaya Bank
