Vijaya Bank unveils online tracking system for SME loans

BANGALORE: Public sector lender Vijaya Bank announced the development of an online system for registration and tracking of loan applications of small and medium enterprises (SMEs). This system will be ensuring faster loan processing to the SME sector.

The bank has held different 'MSME Melas' with the aim to tap a large share of SME loans. An overall of 44 such melas have been held during the last financial year across India, via which the bank distributed Rs 165.43 crore and also alloted Rs 353.26 crore.

To improve MSME banking, the bank has also set up eight cells, one each at Delhi, Mumbai, Pune,Chennai, Hyderabed, Ahmedabad and two cells in Bangalore.