In a bid to focus on its retail credit business, Kolkata-headquartered Allahabad Bank has set up 40 centralised retail banking boutiques. These come in addition to the 59 boutiques that allow faster processing, appraisal and sanction of retail loans.
According to a press release, the bank has taken steps to speed up sanction of housing loans within six working days and car (vehicle) loans within 48 hours. Financing of commercial vehicles (to transport operators) will be through its All Bank Fleet Finance Scheme, wherein loans above Rs 2 crore are sanctioned.
Allahabad Bank, the release stated, has also entered into a tie-up with automobile manufacturers such as Piaggio Vehicles, Tata Motors, Ashok Leyland, Hindustan Motors, Bajaj Auto and Force Motors for financing their vehicles.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.