State-owned Corporation Bank has launched 'SMESuvidha' scheme to provide loans to the GST-registered MSMEs at affordable interest rates.
The product is designed as a part of the lender's efforts to improve service and provide best products to MSME sector, the bank's MD P V Bharathi said in a statement Monday.
This is a unique product for GST-registered Micro, Small and Medium Enterprises (MSMEs). It provides a competitive interest rate structure in the industry and also has various concessions suiting the developing entrepreneur, she said.
The bank is actively participating in the government's flagship programmes including 'MUDRA' and 'Stand-up India' to provide much-needed push to the MSME sector, the statement said.
Corporation Bank has already launched an online loan facility for MSME borrowers and offers customised loan schemes through its dedicated 177 'Specialised MSME Branches' across the country.
The bank provides concession in interest rate on loans offered to women beneficiaries and rated MSME units.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app