Tadepalligudem: Union Bank extends loans worth Rs 40 cr to MSMEs

Tadepalligudem: The Union Bank of India here conducted all-India mega MSME outreach camp to encourage new entrepreneurs for establishing MSME units in and around Tadepalligudem, Unguturu, Pulla, Chebrole and Alampuram areas.

Regional Manager MGK Murthy underlined the role of Banking sector and its importance for financial assistance in establishing the MSME units for generation of employment to the rural youth as well as growth of the economy. Chief Manager (MSME sector) Priyadarshini explained various schemes to assist the peer groups and women entrepreneurs for establishing the new MSME units.

Chief Manager (Credit) Shobhan Babu encouraged the new entrepreneurs to register their names and apply for loans through MSME online portal for easy processing of their loan applications. Chief Manager RD Vara Prasad sanctioned the loans to the newly established MSME units. MGK Murthy distributed the sanction letters to the tune of Rs 5.45 crore.

In all loans up to Rs 40.63 crore were extended through the heads of Tadepalligudem, Unguturu, Chebrole, Pulla and Alampuram UBI Branches.