OBC holds MSME customer meet in Hyderabad

Hyderabad: Oriental Bank of Commerce on Wednesday held a meet with their existing and prospective MSME customers at Circle office in the city. During the meet, the features of the bank's products and services were mentioned. Also, measures to improve the credit flow to MSME sector was informed.

Arun Agarwal, Deputy General Manager and Circle Head, Hyderabad, said that bank has various unique offerings such as principle approval in 59 minutes on MSME loan of Rs 1 lakh to Rs 500 lakh, which is applied through their portal.

"The bank will support borrowers for their business development. We offer collateral free loans of up to Rs 200 lakh through credit guarantee scheme and up to Rs 10 lakh under Mudra Yojna along with housing loan for a maximum tenure of 40 years," he added. The bank also informed that it has organised outreach and support camps for MSME borrowers at industrial areas in Telangana.