Tamilnad Mercantile Bank Ltd (TMB) has recently announced the opening of its first-ever dedicated MSME processing hub in Chennai. This hub aims to provide timely availability of credit for MSME customers, reduce the turnaround time, and help to increase the MSME portfolio of the bank. In addition to its initial hub in Chennai, the bank will open other MSME processing hubs in Coimbatore, Madurai, and Thoothukudi soon.
TMB has attached relationship managers with the MSME Hubs who can assist customers end-to-end with the loan disbursement process. The MSME hub will ensure effective delivery of services and products to MSME customers and maintain high appraisal standards for credit decisions. This will help with uniform appraisal standards and quicken the turnaround time from application to sanction.
S Krishnan, MD-CEO, TMB, stated that MSMEs are essential for India’s economic growth and are an integral part of their strategy. By opening MSME processing hubs in various centers that are hotbeds of MSMEs, the bank commits to focusing on credit expansion with high credit quality. The MSME hub will ensure transparency and compliance in MSME lending.
TMB has a strong reputation of over 100 years and has a robust track record. 200 branches in TN are covered in the initial phase, and the bank aims to open MSME hubs at various centers pan-India from July to September this year. The hub has been set up to segregate credit decisions and ensure high-quality credit assessment. By establishing an MSME processing hub, TMB commits to serving its clients better and meeting their credit needs.
