Shri K.R. Shenoy, Executive Director, Vijaya Bank formally inaugurated the new MSME cell of the bank. The Executive Director highlighted the role played by MSMEs in the Indian economy and the GDP growth. The function was well attended by budding entrepreneurs, distinguished customers and the employees of the bank.
On the occasion, loans were sanctioned to the tune of Rs. 911 Lakhs covering more than 30 beneficiaries.
During the current financial year, Vijaya Bank has so far conducted 111 MSME Melas all over India in major potential centers and accorded in-principle sanction to the tune of Rs. 2298.50 crore.
As on December 2012, Bank’s outstanding level under MSME sector is Rs. 10257 crore registering Y-O-Y growth of 31.78% as compared to Rs. 7783 crore as on December 2011.
The Bank has introduced Online tracking system of MSME loan applications and acknowledging the loan applications.
Vijaya Bank has tailor made schemes to suit the different requirements of the MSMEs like V-Dhanvantari for Doctors, V-Vidhya Vahini for Educational institutions, V-Vyapar for Traders, V-Dhanya for Millers and V-Restaurant for Restaureers etc. The bank has been committed in playing a pivotal role to boost the MSME sector in view of their importance in employment generation and GDP.
Vijaya Bank is one of the fastest growing public sector bank which has always been at the forefront in meeting its social and economic obligations towards the MSME Sector.
