Single window provision for mortgage loans at Syndicate Bank lauded

The move to upgrade Central Processing Centre (CPC) at Syndicate Bank’s regional office in Hampankatta as a single window for all mortgage-related retail loans is a welcome move as it would immensely benefit customers, Mangalore Urban Development Authority (MUDA) Chairman Suresh Ballal said.

After inaugurating the new retail loan centre at the bank’s regional office on Monday, he said his father K Srinivas Ballal was the first customer to open an account in regional office following an invitation from T A Pai. He said MUDA would approach Syndicate Bank for loans. He said MUDA proposes a Rs 20 cr market in Urva market, Rs 12 cr music fountain in Kadri Park and Rs 13 cr residential layout in Konaje.

Kanchana Hyundai Managing Director Prasad Raj Kanchan said retail loans had tremendous potential and the centre should have been launched years ago.  Syndicate Bank Deputy General Manager N Sitarama Somayaji said Mangaluru Central Processing Centre (CPC) was the first centre after Bengaluru to be upgraded as a Retail Loan Centre (RLC). “From now on 41 branches in and around Mangaluru will be canvassing and selling points,” he said.

Retail Loan Centre Chief Manager P V Raveendran said that among 14 CPC in India, Mangaluru CPC was ranked number one among non-metros for sanctioning the highest number of loans. The centre will be sanctioning all mortgage-based retail loans, he said.