Team Siliconindia

• Indian Bank hosts MSME & Retail Customer Outreach Camp in Mumbai, sanctioning nearly 200 loans worth Rs 1,400 crore.
• Initiatives showcased include Ind Smart Biz App, IND Trade NeXT, Ind GST hassle-free loans, and online MSME account renewal.
• Special MSME Rise Campaign launched to offer concessional interest rates and promote sustainable business growth.

As part of the Government of India's focus on increasing MSME finance, Indian Bank has stepped up its efforts to provide financial assistance to the MSME sector. As a part of this endeavor, the bank recently organized an MSME and Retail Customer Outreach Camp in Mumbai, presided over by Shri Binod Kumar, Managing Director and CEO of Indian Bank. The event proved to be a platform to enhance the bank's outreach to MSME and retail clients and provide access to its different financial products and services.

At the camp, the bank sanctioned nearly 200 loans with a total of Rs 1,400 crore, for which sanction letters were distributed to MSME and retail customers. Welcoming the gathering, Shri Binod Kumar emphasized the variety of products and schemes presented by Indian Bank to meet the varied requirements of MSME and retail space. Customers were also introduced to the services of the bank through audio-visual presentation depicting products in MSME funding, retail banking, and digital offerings. Shri Deepak Gupta, Field General Manager, Mumbai, also attended the event.

Shri Binod Kumar went on to discuss some of the recent efforts that Indian Bank has made to render banking simpler and efficient for MSMEs. These include the rollout of the Ind Smart Biz App, which simplifies business banking, and IND Trade NeXT for convenient Forex transactions. The bank has also launched hassle-free loans under Ind GST, allowing MSMEs to take credit up to Rs 1 crore without difficulty. In addition, the online review and renewal facility for MSME accounts has been launched, providing enhanced convenience to the customers.

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In order to further assist the development of the MSME sector, Indian Bank has introduced a special MSME Rise Campaign, which offers borrowers concessions and reduced rates of interest. The campaign highlights the bank's efforts not just to lend funds but to also facilitate businesses to develop sustainably through affordable credit solutions.

By making such efforts, Indian Bank seeks to emerge as a preferred banking partner for MSMEs, keeping small and medium enterprises financially equipped to grow, innovate, and drive India's economic growth. The outreach camp at Mumbai is an example of the bank taking an initiative in reaching out to customers directly, realizing their requirements, and providing them with custom-tailored solutions that meet the needs of an ever-changing business scenario.