Tuesday, December 2, 2014: Mangaluru-based private sector Karnataka Bank Limited has introduced an online loan application for MSME customers on its website in an attempt to meet their growing demands. P Jayarama Bhat, MD, had inaugurated the online portal.
The bank owns 160 specialised MSME branches which are spread across 100 clusters of 16 states in India for lending to the MSME sector. The online portal bank will offer a facility of online application submission of loan for MSME customers as part of the MSME initiatives of the bank. The online system will allow customers to make their submission across any of the bank’s branches online which in turn will be considered as a branch of customers’ choice for any processing.
The customer will also be able to track the application status using the system, wherein the applicant will receive the intimation via e-mail.
Under the MSME initiative, the bank has formulated many loan products as per customer requirements. The Karnataka Bank Limited has also signed a strategic tie-up with Reliance Capital Ltd for financing working capital needs of their MSME customers to provide one-window clearance for credit to MSME entrepreneurs.
