Punjab & Sind Bank sets up centralised hub to process retail, MSME loans

State-owned Punjab & Sind Bank has set up a centralised hub for processing retail and MSME loans for better efficiency of branches in business acquisition.

The Centralised MSME & Retail Group (Cen-MARG) will be housed at its head office in New Delhi, the bank in a statement.

"The Cen-MARG has been envisioned to ensure qualitative improvement in credit appraisal, improved turnaround time, uniform documentation, and efficient monitoring. The bank is aiming to bring about much-enhanced customer satisfaction through this initiative," Punjab & Sind Bank Managing Director S Harisankar said.

With the launch of Cen-MARG, all approvals of MSME and retail credit will be performed at the Cen-MARG, it said, adding that this will help branches focus better on lead generation for retail lending and MSME and enhanced customer service.

 

The Cen-MARG shall be linked with pan-India branches of the bank in a phased manner, it said.