SBI Delhi circle expects 15% increase in MSME loans this fiscal; to tap customers through psb59 minutes portal too

New Delhi, June 7 (KNN) State Bank of India (SBI) Delhi circle is eying loan growth in excess of 15 per cent for the Small and Medium Enterprises (SME) sector this year, which is a very crucial segment of the economy, a senior bank official has said.

SBI Delhi circle Chief General Manager Vijuy Ronjan said that we had a base of around Rs 20,000 crore in SME segment as on March 2019 and we expect a 15 per cent increase during the current fiscal. We hope to close the financial year with Rs 23,000-24,000 crore asset book.

The circle, the biggest in the SBI family in terms of business mix, has 67 branches dedicated to promote Micro Small and Medium Enterprises (MSME) sector.

"It would be our endeavour to bring at least 1,400 new MSME customers in our fold during the current financial year beside the target given under Pradhan Mantri Mudra Yojana (PMMY)," he said.

SBI Delhi circle will also tap customers from the psboansin59minutes portal, he said, adding this would enhance the MSME portfolio.

With regard to retail side, Ronjan said, the focus would continue towards housing, auto and education loan.

Double digit loan growth in the segment will continue this fiscal as well and retail loan book size is expected to touch Rs 50,000 crore during the course of the year, he added.