DIPHU, Sept 15: Retail Assets Credit Centre (RACC) was launched by State Bank of India (SBI), North East Circle, chief general manager PVSLN Murty in a function organised by Diphu branch of SBI here on Friday. It is first of its kind in Northeast, claimed SBI officials.
“The RACC has been introduced first in Diphu in the Northeast for processing loans. By setting up the RACC all loan related matters from borrowing to repaying will be taken up here. It is for convenience and faster service delivery. It is a separate component in the SBI to deal only with loan,” Murty said in his address.
The innovative was introduced by Murty himself, an SBI official said.
“With RACC the loan processing and delivery will be completed within 24 to 48 hours. If it does well then it will be expanded to other circles and branches, Murty also said.
SBI general manager, OP Mishra; deputy general manager, J Sahu; general manager, K Singha and others were present at the function.