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Syndicate Bank to set up CPCs for MSME funding

Syndicate Bank is in the process of setting up Centralised Processing Cells (CPC) for SMEs across various clusters. The bank plans to open one such CPC in Coimbatore soon. The bank’s ED M Anjaneya Prasad said Coimbatore being an SME hub is an important destination for the bank to set up such a cell, as it would facilitate quick and focused processing of applications. He said the bank will continue to focus on SME and mid-corporates. Fifty out of the 400 branches that the bank proposes to open during the current fiscal would be specialised branches like Mid-Corporate and MSME branches to give focused attention to target group borrowers.

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