Syndicate Bank soon to approve loans in 15 mins
The Syndicate Bank is inching up its game in the banking industry by setting up a platform to approve loans in 15 minutes. As per Business Line, through this platform, individuals will be able to get approvals on loans for housing, retail and MSME segments within the limit of Rs. 5 Crores. This platform will not cater to agri-loans and corporate loan requirements. Ajay Kumar Khurana, the Executive Director of the Syndicate Bank believes that this product will provide them with a competitive edge over others in the banking industry. As of now, the software is being readied and will be launched before the end of this fiscal.