Banks will streamline services for MSMEs

Executive director of BoM AB Vijayakumar during a meeting held at CMIA

Aurangabad, May 27:

Aurangabad is one of the largest industrial cities in the State, with a significant number of small and medium enterprises. The Bank of Maharashtra (BoM) would make the process of lending to these industries easier and streamlined, considering that they often face financial difficulties while operating or expanding the industry, said AB Vijayakumar, executive director, BoM.

He was speaking during a visit to the Chamber of Marathwada Industries and Agriculture (CMIA) on Friday. Vijayakumar said that the NPA of BoM was the lowest among the others and the bank was making progress in its expansion plans, lending to farmers and government approved projects. However, the bank's lending to industrial sectors in Aurangabad is currently lower than expected, he said, adding that he was keen to increase it. CMIA secretary Satish Lonikar, senior entrepreneur Ram Bhogale, Ashish Garde, industrialists Abhay Deshmukh, Maithili Deshmukh and senior officials of BoM were present on the occasion.

Felicitate loan process

CMIA president Shivprasad Jaju said that in order to increase lending to industries, the focus should be on the MSME sector, as MSMEs dominate in Aurangabad, efforts should be made to facilitate lending processes at the branch level.