SBI's new credit processing centres

In an effort to reduce sanction and disbursement time of loans and advances, the State Bank of India (SBI), on Thursday, announced the setting up of two more Retail Assets Credit Processing Centres (RACPC) in Bangalore.

The bank, which already has one such centre functioning at Basavanagudi, opened two more, one at Koramangala and the other at Banaswadi. The bank has one SMECCC (Small & Medium Enterprises City Credit Centre) at Seshadripuram.

SBI Managing Director & Group Executive (National Banking Group) A Krishna Kumar inaugurated the two centres.

Further, Kumar, as part of the bank’s corporate social responsibility (CSR) initiative, also handed over a school bus to the Indian Mission for Children in Crisis (IMCC) Bangalore.

The bank, he added, sets aside 1 per cent of its net profit annually towards CSR activities.

He also officially threw open the new Bangalore Zone 1 Administrative Office in Basavanagudi.

These RACPCs, he said, were primarily set up for synchronised and concentrated activity at one place to provide speedy processing of housing, education and vehicle loans at the regional levels.