Bank of India eyes Rs 10,000 cr loan sales in ongoing special drive

State-run Bank of India is looking to disburse Rs 10,000 crore of incremental loans from its ongoing customer outreach initiative that began on December 2 and ends on Thursday.

"Our focus through this initiative is the MSME sector as demand from the corporate sector is not high," executive director CG Chaitanya told reporters.

The outreach programme is being conducted in 54 zones, comprising 5,000 branches.

"Each zone has been given a disbursement target of Rs 200 crore during this initiative. We are aiming to disburse anything between Rs 7,500 and Rs 10,000 crore," he added.

Under this, loans will also be given to schemes such as Mudra, PSB 59 minutes loans and Stand-up India schemes.

Besides the MSME sector, the bank is also looking at disbursing loans in the retail segment, with special focus on home and vehicle loans.