SBI comes up with small business credit cards
By Our Banking Bureau | 29 Jun 2002
1
Kochi:
State Bank of
India (SBI) has launched an innovative product a small
business credit card with a credit limit up to Rs 5 lakh to
meet the credit requirements of small business and industrial
units, retail traders, artisans, small sector and tiny units in
Kerala.
SBI
DGM K Sridharan released the first credit card to District Vyapari
Vyavasayi Ekopana Samiti treasurer T K Moosa at a function here.
Sridharan says the procedural delays in sanction and renewal of limits, submission of balance sheets, stock statements and other statements will be done away with and the credit delivery will be made simple and easy in the new credit card system.
Simplified forms and a credit-scoring model for the small business credit card have been designed to enable branch managers to quickly process applications.
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