Bank of India has decided to increase its credit services for the benefit of small businesses. Prem Kumar, the general manager said in Ranchi that the bank is going to process loans within a set time frame. This is going to benefit businesses immensely.

Applications of credit proposals ranging between 1 crore and 10 crore shall be processed by the small and medium enterprise (SME) city center branches within a period of 21 days. There are currently 20 branches under the SME category and all of them are working to improve loan disbursement process for keeping the interest of local businessmen.

The retail business center operating in Ranchi has also been indicated to improve its loan disbursement process. A guidance center for retail loans of all kind shall also be established.