HDFC Bank MSME loan book records Rs 13,154 cr in Sep 2021

New Delhi, 20 Dec (KNN) The MSME book of HDFC Bank has witnessed a 17 per cent year-on-year growth to over INR 13,000 crore as of September-end in Uttar Pradesh.

More than 66,000 MSMEs have availed loan from the Mumbai-headquartered bank.

Under the ECLGS scheme of the government, HDFC Bank has disbursed advances to over 5,950 MSME units in the state, as published in TOI.

In the last 17 years, HDFC Bank has offered loans to 66,869 companies and starting lending to MSMEs in Uttar Pradesh in 2004.

HDFC Bank has so far extended loans to MSME customers in more than 500 cities and towns covering 75 districts in the state of UP.

Commenting on this, Shyamal Singh, Regional Head, and Business Banking - Uttar Pradesh, HDFC Bank said, "MSMEs are the backbone of the economy and are amongst the largest job creators. We are proud to have been a partner in their growth journey with our world-class products.”

He also said that the bank will expand to 30 more locations in the state and simultaneously increase their digital footprint.