Financial Daily from THE HINDU group of publications
Wednesday, Apr 20, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 20, 2005 |
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Money & Banking
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Credit Market Industry & Economy - SSI Union Bank advances to SSIs up 20 pc Our Bureau
Mumbai , April 19 UNION Bank of India's advances to small-scale industries grew by 20 per cent during the financial year 2004-05, to touch Rs 3,765.77 crore. The bank covered 2,247 small-scale industry units under the Credit Guarantee Fund for Small Industries, which provides guarantee against default up to 75 per cent of the credit facilities granted, said a press release. The total amount covered increased 90 per cent to Rs 50.37 crore as on March 31, 2005, the release said. Union Bank has identified the small and medium segment as a thrust area because of the growth opportunities and the employment potential in the sector, the release said.
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