New Delhi, March 26, 2022: Union Bank of India today announced receipt of ISO certification for ‘Standardization of Credit Appraisal Process in SARALs/SARAL Lites’ (SARALs – Systematic Appraisal and Risk Assessment of Loan) – Centralized Processing Centers for MSME loans.
This coveted certification is a proof that the Bank is committed towards making the Banking services, easy, fast, and hassle-free not only for the individuals but for the small-scale units as well, to boost the MSME sector. Union Bank of India remains committed to constantly improving the customer services and processes by leveraging skilled man-power and advanced technology.
Union Bank of India has set up SARAL/ SARAL LITE CENTRES at all its 125 Regional Offices, where all proposals are considered under Single Window Concept in liaison with the respective Branch to quicken the decision-making process.
The Certification Agency assessed the quality management system of the Bank and found it to meet the requirements of ISO 9001:2015 for Standardization of Credit Appraisal Process in SARALs/SARAL Lites and issued ISO certificate.