Canara Bank SME and priority banking

BANGALORE, INDIA: The Canara Bank occupies a premier position among banks in India. The bank has adopted a policy for lending to SME sector, in tune with the government of India's guidelines as per the MSMED Act, 2006.

The bank offers following loan products and services to the MSME sector:

1. Govt. of India schemes

• Prime Minister's Employment Generation Programme (PMEGP)

• Scheme for Rejuvenation, Modernization & Technology Upgradation of the Coir Industry (REMOT)

2. Schemes for Capital Investment

• Loan scheme for reimbursement of investment made in fixed assets by SMEs

• Scheme for energy savings for SMEs

• Technology Upgradation Fund scheme (TUFS) for textile and jute industries in the SME sector

• Co-financing arrangement with the Small Industries Development Bank of India (SIDBI) for

• projects under small enterprises, service sector and related infrastructure projects

• Loan scheme for acquisition of ISO 9000 series certification

• Loans under Interest Subsidy Eligibility Certificate (ISEC) scheme of Khadi and Village

• Industries Commission (KVIC) to eligible institutions

• Canara Guide

• Non fund based facility — Deferred payment guarantees

Also read: Bengal to form MSME panel

3. Schemes for Working Capital

• Simplified Open Cash Credit (SOCC)

• Open Cash Credit (OCC)

• Micro financing joint liability groups (Handloom weaver and Agarbathi manufacturer groups)

• Laghu Udhyami Credit Card (LUCC)

• Bill of Exchange discounting facility to Small Entrepreneurs at concessional rate of interest (BE-SE)

4. Schemes for Composite requirements

• Composite loan scheme (CLS)

• Artisan Credit Card (ACC)

• Doctor’s Choice

5. Others

• Rehabilitation/Nursing of Sick Small Enterprises (Manufacturing) units

• Debt Restructuring Mechanism for Small and Medium Enterprises (Manufacturing) units

• Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGMSE)

• Rating of SMEs by External Agencies

SME marketing unit

The SME Marketing team of Canara Bank facilitates relationship building between the customer and the bank for addressing their financial requirements. It helps in choosing the right product to match the customer's credit needs.

It also facilitates the documentation procedures, assists in project appraisal, gets enterprise rated by reputed external rating agency and helps in adding value to customer's supply chain.

Dedicated SME marketing team is currently available at SME Sulabh spread across 15 centres in the country.

For more visit http://www.canarabank.com/English/Home.aspx