Shri S R Bansal, Chairman & Managing Director of the Bank receiving Skoch Achiever Award for Outstanding Performance in SME Ennoblement during 2014 instituted by SKOCH Consultancy Services Pvt. Ltd. from Shri Montek Singh Ahluwalia, Deputy Chairman, Planning Commission at the Award ceremony held at India Habitat Center, New Delhi on 22nd March 2014.
Mangalore: Corporation Bank has bagged Skoch Achiever Award for outstanding performance in SME Enablement during 2014 instituted by SKOCH Consultancy Services Pvt. Ltd. The Award was received by Shri S R Bansal, Chairman & Managing Director of the Bank at the benign hands of Shri Montek Singh Ahluwalia, Deputy Chairman, Planning Commission at the Award ceremony held at India Habitat Centre, New Delhi on 22nd March 2014.
Skoch Awards are known for its unique approach in selection of awardees which follows a rigorous process of selection by an eminent Jury of industry leaders, domain experts, economists and academicians. Skoch Awards identify and salute best practices and comprehensively document, publish and put in public domain for the knowledge of others.
Realizing the constructive role played by MSME Sector in the national development, Corporation Bank has taken several initiatives like:
- Collateral free loans up to Rupees One Crore under Credit Guarantee Scheme [CGTMSE].
- Cost of guarantee cover for loans up to Rupees Ten Lakhs is borne by the Bank and to encourage the entrepreneurs, interest rate concession to the extent of 50 bps is offered.
- Concessions in interest rate are offered to women beneficiaries and rated SME units.
The Bank offers customized loan schemes to cater to the needs of the MSME sector. Bank has launched SME Loan Centres across the country. Each SME Centre is ably supported by dedicated team of Relationship Managers and exclusive processing mechanism. These exclusive SME centres would facilitate effective use of hi-tech banking technology available in the Bank, for speedy processing of proposals and making available bank finance at an attractive rate.
During the current year, Bank organized SME Mega Loan Expos at nearly 100 locations across India. Members from SME Associations, SME Rating Agencies, Chamber of Commerce and National Small Industries Association (NSIC) participated in the SME Expos conducted by the Bank to create awareness on credit, marketing, taxation and export.
As on 31.12.2013, the SME portfolio of the Bank stood at Rs.23,069 crore as against Rs.19,517 crore as on 31.03.2013. On Y-o-Y basis, credit flow to MSME sector registered an absolute growth of Rs. 5432 crore (30%).
Corporation Bank has been consistently receiving awards from organizations of repute on various facets of implementation of technology, customer relationship management, and financial inclusion etc., over the last many years. Recently, the Bank has been conferred top ranking Awards by the Ministry of Micro, Small and Medium Enterprises, Government of India. The Bank has attained the First Rank based on outstanding performance in MSE lending and Second Rank based on excellent performance in lending to micro enterprises for the financial year 2012-13. The Award was received by the Bank on March 1, 2014.
