IOB hosts MSME outreach programme

Visakhapatnam: Indian Overseas Bank (IOB), regional office, Visakhapatnam, hosted a Micro, Small, and Medium Enterprises (MSME) outreach programme on Thursday at Eluru. The initiative brought together bank leadership, government representatives, industry figures, and local entrepreneurs to streamline credit access, boost financial literacy, and support business expansion across the district.

A major milestone of the event was the distribution of 11 sanction letters totaling Rs.8 crore to local MSME entrepreneurs, demonstrating IOB’s commitment to immediate credit delivery and regional development.

The event featured strategic insights from key stakeholders, including the assistant general manager (AGM, LPC, Visakhapatnam), senior executives from IOB’s Eluru branches, the General Manager of the District Industries Centre (DIC), the Project Director of MEPMA, and leadership from the Chamber of Commerce.

“Our goal through this outreach is to bridge the gap between financial institutions and local entrepreneurs,” stated the senior manager of IOB’s Xavier Nagar Branch.

Through dedicated credit facilities, tailored loan schemes, and strategic regional outreach programs, the bank continues to drive economic growth and financial inclusion for micro, small, and medium enterprises.

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The Hans India