An SME initiative for Bangalore SMEsBANGALORE, INDIA:
UCO Bank launched Small and Medium Enterprises (SME) Hub, an initiative for providing credit to the SME sectorin Bangalore.
The initiative, which was unveiled by State Minister for Forests and Small Scale Industries Vijaya Shankar, is meant to enable the bank to concentrate on lending to broad-based SME category.
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The bank has decided to set up SME loan hubs at major centres, which will cater to the credit requirement of Rs 25 lakh to Rs 25 crore to the entrepreneurs and will be a Single Window Delivery Mechanism for SME units with hassle-free procedures, UCO Bank said.
Sanction letters to SME entrepreneurs, which have been sanctioned by the SME hub.
UCO Bank. CMD Arun Kaul was present during the launch.
This loan hub would of immense financial support to the Small and Medium Businesses.