Central Bank’s MSME drive generates Rs 150 crore

The Central Bank of India’s Hyderabad Region organised an MSME Outreach Campaign at Balanagar, generating business worth Rs 150 crore. The event focused on expanding MSME financing, sanctioning loans, issuing in-principle approvals, and disbursing funds, with senior officials in attendance.

Hyderabad: Central Bank of India, Hyderabad Region, organised an MSME Outreach Campaign at the MSME Development & Facilitation Centre, Balanagar, on Friday, generating business worth Rs 150 crore.

Dr Himanshu Gupta, General Manager (MSME), Central Office, stressed the need to expand MSME financing by focusing on New-to-Bank (NTB) and New-to-Credit (NTC) customers.

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The campaign included one-to-one interactions with entrepreneurs, presentations on MSME loan products and schemes, and distribution of cheques and sanction letters. The Bank sanctioned Rs.40 crore in MSME loans, issued Rs.60 crore in-principle sanctions and generated Rs.50 crore in fresh MSME leads. Loans worth Rs.25 crore were disbursed on the day.

M Pichayya, Zonal Head, Hyderabad Zone, C.S.S. Rao, Joint Director, MSME Development & Facilitation Centre, Balanagar, and Gajendra Singh Chouhan, Regional Head, Hyderabad Region, were present.