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Business EconomyPosted at: Jun 6 2023 5:18PM


TMB opens first-ever MSME processing hub

Chennai, June 6 (UNI) Tamilnad Mercantile Bank Ltd (TMB) today announced
the opening of its first dedicated MSME processing hub in Chennai.
The hub will cater to the timely needs of MSME customers, reduction of
turnaround time and help to increase the MSME portfolio of the bank.
TMB was planning to open other MSME processing hubs in Tamil Nadu in
Coimbatore, Madurai and its headquarters in Thoothukudi district in
the first quarter of the current FY.
In July to September this year, the Bank also aims to start MSME hubs
in other centers pan-India.
There will be Relationship Managers attached with the MSME Hubs who
will be assisting the customers end-to-end for the loan disbursement
right from sourcing the proposal.
These services will cover 200 branches in Tamil Nadu in the initial
phase.
The MSME hub will ensure efficient delivery of services and products
to MSME customers.
A TMB release said the hub has been opened in order to segregate
sourcing of proposals and credit decisions, ensure qualitative
improvement in credit appraisal and sanction, maintain uniform
appraisal standards, maintain high standards of assessment quality,
reduce credit sanction turnaround time (TAT) and adhere to
transparency and compliance in MSME lending.
TMB MD and CEO S Krishnan said “MSMEs are the growth engine
of the Indian economy and form a very important component of our
growth strategy. It is imperative that we extend our support to MSMEs
by focusing our products and services to serve them the best."
"By establishing processing hub in centres that are the hotbed of
MSMEs, we commit to focus better on credit expansion with credit
quality”, he said.
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