Excelsior Correspondent
JAMAMU, June 21: In continuation of its pursuit to enhance SME credit and to make its schemes for Small & Medium Enterprises attractive, Punjab National Bank (PNB) disbursed loans of Rs 4.70 crore to 70 beneficiaries at a function organized here today at JKEDI, Udyog Bhawan.
The lending function was presided over by Mohammed Latif Mir, Deputy General Manager, Circle Head J&K Operations. At this function loans under different segments of SME like in Transport, Retail Trade, Artisan, Service Sectors were disbursed.
Exhorting youth to take advantage of various banking schemes for their self employment, Mr Mir informed that SME sector in India has fast emerged as one of the major drivers of the economy contributing 40% in the manufacturing sector. The Bank has adopted aggressive and innovative strategies to make SME schemes customer-centric by evolving a robust Credit delivery system, he added.
Mr Mir further informed that the Bank has tailored its various SME schemes to suit requirements of all types of customers at competitive interest rates and customers can avail hassle free loans up to Rs. 1 crore without any third party guarantee or collateral security by simply paying a token guarantee fee/service charges for coverage under CGTMSE.
Mr Mir further asked the women folk present in the function to come forward as the Bank is encouraging women by charging a concessional rate of Interest with a flat 10% margin on these schemes.
He said that J&K circle of the Bank is celebrating year 2013 as SME Year.
A K Mota and S P Sharma, Chief Managers at Circle office, S S Chib, District Coordinator PNB, large number of beneficiaries and staff members of the Bank were present at the function.
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