abhishreshthaa
Abhijeet S
RETAIL LENDING :
Lending to the retail segments, received greater thrust during the year. The Bank reviewed and refined its various retail lending schemes, making them more customer friendly. Four new retail leading products, viz.,
i. V Professional, designed to set up professional practice in rural and semi urban areas at concessional rate of interest.
ii. V Mortgage, to provide load against the security of equitable mortgage of property (i.e. land and building)
iii. V Solar Lighting – for installation of domestic solar home lighting system and
iv. V Solar heating – meant for installation of domestic solar water heating system were also launched during the year. With a view to step up disbursements under retail lending schemes, the Bank established 84 Retail Lending Outlets in major metro/urban centers.
Consequently, there has been significant increases both in disbursements and outstanding retail credit. The total disbursements under retail lending schemes during 2003-04 amounted to Rs.2821.85 Crore as compared to Rs.1332.65 crore in 2002-03.
The outstanding advances under the retail lending schemes stood as against Rs.853.90 crore in March 2003 registering a remarkable growth rate of 110.47%. Consequently, the share of retail credit in gross credit improved significantly from 22.7% in March 2003 to 34.5% in March 2004.
Lending to the retail segments, received greater thrust during the year. The Bank reviewed and refined its various retail lending schemes, making them more customer friendly. Four new retail leading products, viz.,
i. V Professional, designed to set up professional practice in rural and semi urban areas at concessional rate of interest.
ii. V Mortgage, to provide load against the security of equitable mortgage of property (i.e. land and building)
iii. V Solar Lighting – for installation of domestic solar home lighting system and
iv. V Solar heating – meant for installation of domestic solar water heating system were also launched during the year. With a view to step up disbursements under retail lending schemes, the Bank established 84 Retail Lending Outlets in major metro/urban centers.
Consequently, there has been significant increases both in disbursements and outstanding retail credit. The total disbursements under retail lending schemes during 2003-04 amounted to Rs.2821.85 Crore as compared to Rs.1332.65 crore in 2002-03.
The outstanding advances under the retail lending schemes stood as against Rs.853.90 crore in March 2003 registering a remarkable growth rate of 110.47%. Consequently, the share of retail credit in gross credit improved significantly from 22.7% in March 2003 to 34.5% in March 2004.