Vijaya Bank Plane to Centralize the Loan Processing Operations
Vijaya Bank the Public sector lender is planning to centralize the loan processing operations of the MSME portfolios and retail to reduce the time taken presently in the loan sanctioning process. CMD of the bank, Mr H.S. Upendra Kamath said “We would like to strengthen the credit delivery mechanism under the retail and SME segments. We intend to do is building capabilities within the bank, so that our MSME segment operations and retail can be scaled up.”
In the fiscal last ended, the MSME segments and retail have booked growth respectively of 8.2% and 22%. Mr H.S. Upendra Kamath said “We would like to scale the MSME advances to 30 per cent, and the retail portfolio up to at least 20 per cent in the current year.” without proper infrastructure expect a growth of30 per cent of MSME and 20 per cent of retail will be far-fetched, Upendra Kamath added.
The CMD of the Vijaya bank said “The working of these centralized processing cells will be revisited and their scope expanded. We ensure that they don’t look only at mortgage-based products but at the most of the retail parameterized loan products.” Educational loans within three working day, housing loans are given a decision within six working days, and vehicle loans within two working days, with reduction in turnaround time.