[sbinews] SBI sets up central project finance cell (Business Standard)

  • From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Mon, 31 May 2004 20:40:45 -0700 (PDT)

SBI sets up central project finance cell 
(Business Standard) 
Our Bureau / Mumbai June 01,2004 
State Bank of India would speed up project financing
and sanction of loan proposals through its newly
set-up central processing cell (CPC) at its corporate
office in Mumbai where projects larger than Rs 2 crore
would directly be taken up for consideration and
decided in a month.  
?As of now although the written rule is to decided to
on a loan proposal greater than Rs 2 crore in 30 days,
in actuality the total number of days taken is much
more. Hence, we have set up the Central Processing
Cell that will decide on a loan proposal within
exactly 30 days,? explained A K Purwar, chairman,
State Bank of India.  
Purwar was talking to newspersons at the sideline of
an interactive session organised by the Bharat Chamber
of Commerce with him on Saturday in Kolkata.  
Sources from the bank said that project proposals as
of now passes through a number of levels that delays
the whole process, requiring more than a month to
decide on any single proposal.  
The CPC was set up with the idea of doing away with
the multi-level approach on sanctions of loan
proposals to speedup up the process.  
?From now on the CPC will decide whether to grant a
loan or not strictly within this period,? Purwar
SBI has targeted a 15.5 per cent growth in advances
this year of which a major portion would be on project
financing and corporate lending.  
Purwar also mentioned that SBI along with other banks
had managed financial closure of ten new mega power
project involving a few thousand crore.  
Meanwhile, SBI has also decided to grant the tea
industry in West Bengal a breather in terms of
conversion of existing working capital funding to
long-term loan, and grant further working capital as
per the decision of the Indian Banks? Association.  
Although the bank had in principally decided to offer
the packages as laid down by the IBA, to tea
companies, the industry has been complaining
non-availability of such package from SBI.  
Purwar said SBI would declare the package from May 31,
and would direct officers concerned to make available
the package.  

Web Address: http://rspai.tripod.com

Do you Yahoo!?
Friends.  Fun.  Try the all-new Yahoo! Messenger.
Mailing list (sbinews@xxxxxxxxxxxxx) related information:

News/articles about SBI and Banking related matters published  in the print 
media, Internet etc will be circulated through this Mailing List. 

The messages in this list will help in improving awareness of SBI and its 
activities vis-a-vis the happenings in the Banking industry. This should be of 
help to all staff members of SBI, particularly those who are preparing for 
promotional written tests/interviews/group discussions. Subscription to this 
Mailing List is simple and FREE. Please check the procedure below. Please share 
this information with other colleagues/branches that could be interested in 
subscribing to this Mailing List. 

The messages circulated here should not be deemed to have the official 
endorsement of the SBI or any of its employees. The correct factual position 
may be ascertained from official sources. 

To join this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word 'subscribe' without the quotes in the subject of the email 

To leave this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word  'unsubscribe' without the quotes in the subject of the email 

Archives (old messages) are available for viewing at:
Click on the month-year at the lower left corner to view messages posted during 
that month. 

This is an announcements/newsletter type mailing list i.e. only the Moderator/s 
can post messages to the list. 

This mailing list is maintained and moderated by Sri. R.S.Pai, currently 
working as Chief Manager(IT-Internet Banking), SBI, Corporate Centre, Mumbai. 
Visit http://rspai.tripod.com for some useful Banking, Reference and Utilities 

Other related posts:

  • » [sbinews] SBI sets up central project finance cell (Business Standard)