New credit initiative for SMEs

BANGALORE: UCO Bank’s Small and Medium Enterprises (SME) Hub, organised a programme on Saturday, a new initiative of the bank for providing credit to SME sector.Speaking on the occasion, Minister for Forest and Small Scale Industries (SSI) C H Vijayashankar stressed on the growth of SMEs in the state and informed that SME has always represented the model socio-economic policy of the country.He further said that the SMEs have greatly contributed to the domestic production and increased exports earnings. In addition, it has also been developing indigenous technology and has become an employment generating sector for the country.He appreciated that these hubs will act as a single window delivery mechanism for SME units with hassle free procedures.