GTB
launches customised product for SMEs
Our Banking Bureau
28 June 2002
 Bangalore:
Global Trust Bank
(GTB), the Hyderabad-based private sector bank, has announced the
launch of Unnati, a special product customised for the small and
medium enterprises (SME) segment.
 The
product was launched by Karnataka Chief Minister S M Krishna in
Bangalore in the presence of Infosys chief executive officer and
managing director Nandan Nilekani.
The bank says the new
product will offer timely and need-based credit, apart from
fulfilling the banking needs of SMEs. These include cash credit,
overdrafts, term loans, inland bill discounting, bank guarantees
and letters of credit. All these services will be delivered to
SMEs through superior technology and world-class service.
GTB managing director
Sudhakar Gande says: "Our study of the SME segment showed
that the progress of companies with an annual turnover of Rs 1.5
crore to Rs 15 crore was hindered due to the absence of timely
banking credit and expertise. GTB’s Unnati specifically focuses
on catering to the needs of the SME segment and will offer them
the facilities that will take care of their financial needs and
help them grow their business."
 Coinciding
with the launch of the new product, GTB has set up a strategic
business unit in Bangalore dedicated to servicing the SME segment.
To begin with, the new service will be made available in 10 cities
— Bangalore, Hubli, Mysore, Mumbai, Pune, Chennai, Coimbatore,
Kochi, Vijayawada and Secunderabad.
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