Bank of Baroda plans to lend support to small and medium enterprises (SMEs). It will pay special attention to SMEs in the areas of engineering and automobiles.
The bank held a function to unveil the scheme for financing automobile and engineering units in Chennai. The improvement in the credit flow of SMEs will be facilitated through the SME Loan Factory concept. All eligible SMEs on fulfilling the requirements including techno economic valuation study (if required) will get their loan sanctioned in just 14 days. The Bank of Baroda has a business size of Rs 3,53,295 crore and a customer base of over 35 million.