State Bank of India (SBI), country’s largest public sector lender has opened Retail Assets and Small and Medium Enterprises City Credit Center (RASMECCC) in Shillong. RASMECCC is a specialized loan processing, sanctioning and maintenance hub, which deals with the Personal and SME loans of 21 city based branches, handling more than 20000 loan accounts including big branches in the state.
The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.
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