The city-based public sector Corporation Bank has been awarded the 'National MSME Excellence Award 2017', instituted by the Federation of Industry, Trade and Services.
D V Subramanya Varma, General Manager, Corporation Bank, received the award from Union Minister of State for MicroSmall and Medium Enterprises Haribhai P Choudhary at a function held on February 10 in New Delhi, a bank press release here said.
The Federation of Industry Trade and Services (FITS) is a national industry body working in the form of a bridge between the industry and the state and central governments.
Corporation Bank has taken several initiatives recognising the constructive role played by MSME Sector in thenation development like online loan facility for MSME borrowers, online facility for revival and rehabilitation of MSME, campaign for growth with various concessions and collateral free loans up to Rs two crore under Credit Guarantee Scheme.
Concessions in interest rate are also offered to women beneficiaries and rated MSME units and others, the release said.
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