State Bank of India (SBI) with dual objective to enhance customer service activities and tap small and medium enterprises, inaugurated Central Processing Cell (CPC) in the city on Wednesday. | |
| Besides this, SBI also launched a tailor-made finance scheme for ceramics tiles industry in Morbi for which it has received seven to eight proposals till now and are being processed. |
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| Nagendra Bhagnagar, general manager, network "�1 of SBI, while talking to Business Standard, said, "Rajkot and Saurashtra are very important region for SME financing as there are large number of manufacturing facilities here." |
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| The basic function of the cell is to scrutinise SME financing proposals received from across eight districts such as Rajkot, Jamnagar, Bhavnagar, Bhuj (Kutch), Junagadh, Porbandar, Amreli, and Surendranagar of Saurashtra-Kutch region. |
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| "The SBI team will present appropriate credit committee based on the credit limits and with the establishment of this cell, the processing shall be done speedier. Usually banking officials and industrialists have to interact on frequent basis which is a lengthy process. With this facility they will cut-short on process timings, further making it convenient for both the bank and customers," said Bhatnagar. |
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| SBI is targeting sanctioning finances upto Rs 250 crore in 2006-07. "Anything above rupees one crore to Rs 75 crore shall be dealt by this cell. For higher requirements, we have various other cells to take care of but in case of any demand exceeding Rs 75 crore, this cell will co-ordinate with our corporate accounts cell based at Mumbai," he said. |
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| SBI's emphasis will be on Morbi ceramics cluster, engineering and foundry units in Rajkot and export oriented units in Saurashtra-Kutch region, he said. |
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| Recently, SBI announced a simplified tailor-made finance product, keeping in view the growth of Morbi ceramics cluster. "Based on our past experience and history of transactions undertaken with various ceramic units in Morbi, we have decided to provide them a simplified tailor-made product," said Bhatnagar. |
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