BOB announce fast loan processing factories at Chandigarh

BOB launches centralized loan processing centers at Chandigarh
BOB’s loan processing unit to expedite retail and SME prospects
BOB to provide retail loans within six days time

Chandigarh 16 May: To felicitate the fast processing of loans, BOB has started its 35th SME and 25th Retail Loan Factory at Chandigarh. The loan factories were virtually inaugurated by MR. R.K. Bakshi, Executive Director, Bank of Baroda in the benign presence of high officials and dignitaries at a function held in a hotel here today.

While speaking on this occasion Bakshi said that the new centralized loan factories have been announced with an endeavor to provide impetus not only to the loan imbursement process for Small & Medium Enterprise but also for the retail loans which include Housing, Car, Education, Small Business and Personal Loans etc. He said initially the loan processing use to take long time but with the launch of this scheme it will not take more than six days for retail loan & 14 days for SME loan after the completion of the papers. While targeting to distribute 100 crore each under these schemes, Bakshi emphasized the Bank's commitment for planned and sustained growth of Small & Medium Entrepreneurs and Retailers in this region.

Speaking on the occasion Mr. S.K. Bhargava, General Manager, North Zone, New Delhi, welcomed Mr. R.K. Bakshi, Executive Director, Bank of Baroda for his presence to launch the SME & RLF at Chandigarh. The importance of the SME & RLF is evident by the presence of Mr. R.K. Bakshi, Executive Director of Bank of Baroda. It was conveyed that all efforts would be made to ensure that the customers benefited from the SME & RLF. The products were discussed in brief for the benefit of the customers.

Also present was Mr. P.P. Bhutani, Dy General Manager of Chandigarh Region and he assured Mr. R.K. Bakshi, Executive Director, Bank of Baroda, that both the SME & RLF headed by Mr. P.K. Sabarwal, Chief Manager and Mr. A.S. Saroha, Chief Manager respectively will assure in a new concept in the Region and promote the timely sanction of credit facility to the wide range of clients.

The first two clients of SME Loan Factory, M/S R.G. Structures and M/s Dev Bhumi Educational Trust, Una availed the facility under this scheme of the Bank.

Vote of thanks was given by Mr. S.K. Goyal, Asst. General Manager (DRM) of Chandigarh Region and he thanked MR. R.K. Bakshi, Executive Director of the Bank and ail other dignitaries who graced this occasion and gave immense support for the successful launch of SME & RLF at Chandigarh Region.

The customers present in the launch also spoke about the support they received from the Bank and were thankful to the vision of the Bank in promotion of entrepreneur ship in the region.