From Manne Sreenivas Rao

Hyderabad, Apr 2 (KNN)  With an aim to support MSMEs, the State Bank of Hyderabad (SBH) has allocated Rs 9000 crore which will be offered to MSMEs through the SBH network of 1558 branches.

Speaking to KNN correspondent, the bank’s General Manager BK Shivaram expressed the bank’s enthusiasm towards the initiative, stating that special focus would be given to the MSME sector.

In keeping with this, the bank’s Managing Director M Bhagavantha Rao had recently announced that the financial year 2013-14 would be considered the year for MSMEs, Shivaram said. 

He also explained about the various schemes and programmes that cater to MSMEs such as Prime Minister’s Employment Generation Programme (PMEGP) CARE Centres, special services to MSME borrowers and Plan Scheme of Technology Upgradation for lending to MSME borrowers.

In the manufacturing sector, enterprises engaged in the manufacture or production, processing or preservation of goods; are classified based on their investment in plant and machinery: a micro enterprise’s investment in plant and machinery does not exceed Rs 25 lakh; a small enterprise’s investment is more than Rs 25 lakhs but does not exceed Rs 5 crore; and a medium enterprise’s investment is more than Rs 5 crore but does not exceed Rs10 crore.

With regard to the services sector, enterprises engaged in providing or rendering of services are classified based on their investment in equipment:  for a micro enterprise the original investment in equipment does not exceed Rs 10 lakh; for a small enterprise it is more than Rs 10 lakh but does not exceed Rs 2 crore; and for a medium enterprise investment is more than Rs 2 crore but does not exceed Rs 5 crore. (KNN)