SBI Regional Manager announces, Ongole region rated best in loans sanction

By Our Special Correspondent

State Bank of India Ongole Regional Manager S Subrahmanyam said that they will provide better banking services and loans to regular customers through their 44 branches and entrepreneurs in the region through nine MSME branches.

Ongole region has been the best performing region in the country especially in sanctioning home education loans.

Briefing the media, Subramanyam said that special focus has been placed on granting loans as per the needs of the customers and RACPC system has been set up in the region to process housing and education loans quickly. The RACC system for sanctioning MSME loans is placed under the supervision of Chief Managers.

Interested entrepreneurs can pay Rs. 50 lakh to submit applications for loans up to Rs. He suggested that applications for loans above Rs 50 lakh should be submitted through MSME departments.

In the name of express credit to employees the Regional Manager said that they are providing personal loans up to Rs 35 lakhs; In case of salary accounts with SBI, Ward and Gram Secretariat employees Rs. Personal loans up to 4 lakhs.

Agri Gold Loan, Agri Term Loan and Agri Infra Loan are offered to farmers especially for farm mechanization under Agri Infra Loans. Apart from these, SBI provides loans under stand up scheme to women and SC entrepreneurs, Mudra loans to small entrepreneurs, loans under PMEGP for self-employment to students studying in the country and abroad.

He suggested that students should apply for education loans according to their needs and qualifications as admissions are taking place in foreign universities.

He said that students getting admissions in IITs, IIMs and NITs of the country can avail free education loans up to Rs 7.50 lakh without collateral. He suggested that customers interested in applying for the schemes and loans offered by the bank should contact any branch in the region.