GTB launches customised product for SMEs
By Our Banking Bureau | 28 Jun 2002
The product was launched by Karnataka Chief Minister S M Krishna in Bangalore in the presence of Infosys chief executive officer and managing director Nandan Nilekani.
The bank says the new product will offer timely and need-based credit, apart from fulfilling the banking needs of SMEs. These include cash credit, overdrafts, term loans, inland bill discounting, bank guarantees and letters of credit. All these services will be delivered to SMEs through superior technology and world-class service.
GTB managing director Sudhakar Gande says: "Our study of the SME segment showed that the progress of companies with an annual turnover of Rs 1.5 crore to Rs 15 crore was hindered due to the absence of timely banking credit and expertise. GTBs Unnati specifically focuses on catering to the needs of the SME segment and will offer them the facilities that will take care of their financial needs and help them grow their business." Coinciding with the launch of the new product,
GTB has set up a strategic business unit in Bangalore dedicated to servicing the SME segment. To begin with, the new service will be made available in 10 cities Bangalore, Hubli, Mysore, Mumbai, Pune, Chennai, Coimbatore, Kochi, Vijayawada and Secunderabad.
