Karnataka Vikas Grameena Bank (KVGB) opened a Retail Loan Processing Cell (RLPC) at Dharwad on Wednesday.
Inaugurating the cell, Shreekant M Bhandiwad, Chairman of the bank, said the RLPC will cater to the needs of the city branches of Dharwad region in processing and sanctioning retail loan products such as housing loans, mortgage loans, vehicle loans and education loans.
The branches collect the required documents and send them to this hub for processing and for speedy sanctions. RLPC will accelerate appraisal, sanction and disbursal of retail loans, and will reduce response time drastically.
He said the bank plans to set up more number of RLPCs across its area of operation in the days to come.
Stating that interest rate on the bank’s retail loan products is very competitive, Bhandiwad requested the general public to take advantage of the bank’s products.