Banks eyeing MSMEs as lean times hit big corporates
Updated: Aug 27, 2013 06:36:53pm
New Delhi, Aug 27 (KNN) With a large number of big corporates battling slowdown, more and more banks are eyeing the micro, small and medium enterprises (MSMEs) for credit growth.
The State Bank of Hyderabad (SBH), an associate of State Bank of India (SBI) will extend additional credit of Rs 9,000 crore to the MSMEs in the current financial year.
According to SBH Managing Director, M Bhagavantha Rao, the Hyderabad-based bank has so far extended credit worth Rs 1,500 to this segment.
Likewise, Dena Bank is also pinning hopes on the small and medium enterprises (SMEs) for its credit growth.
The bank is observing one day in every month as an SME day. The SMEs are provided loans at interest rates ranging between 11 and 13 per cent.
It is not only about the interest rate but other factors also influence the SMEs relationship with the bank, said the Chairman and Managing Director of the Dena Bank Ashwani Kumar in an interview. (KNN/GUNJ)
The State Bank of Hyderabad (SBH), an associate of State Bank of India (SBI) will extend additional credit of Rs 9,000 crore to the MSMEs in the current financial year.
According to SBH Managing Director, M Bhagavantha Rao, the Hyderabad-based bank has so far extended credit worth Rs 1,500 to this segment.
Likewise, Dena Bank is also pinning hopes on the small and medium enterprises (SMEs) for its credit growth.
The bank is observing one day in every month as an SME day. The SMEs are provided loans at interest rates ranging between 11 and 13 per cent.
It is not only about the interest rate but other factors also influence the SMEs relationship with the bank, said the Chairman and Managing Director of the Dena Bank Ashwani Kumar in an interview. (KNN/GUNJ)
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