Business Daily from THE HINDU group of publications
Tuesday, Aug 14, 2007
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Business Daily from THE HINDU group of publications Tuesday, Aug 14, 2007 ePaper |
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Money & Banking
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Public Sector Banks Industry & Economy - SSI SME credit growth of public sector banks tops 25%
K.R. Srivats New Delhi, Aug. 13 Public sector banks’ overall credit exposure to small and medium enterprises grew 25.81 per cent in fiscal year 2006-07 to Rs 1,84,589 crore, surpassing the minimum 20 per cent year-on-year growth targeted for this sector. SME credit exposure of PSBs (including the State Bank Group and IDBI Bank) stood at Rs 1,46,718 crore as on March 31, 2006. In fiscal 2005-06 also, the PSBs’ overall exposure to SME sector grew over 20 per cent. The policy package on stepping up credit to SME sector, announced in Parliament in August 2005, had set the objective of doubling the flow by 2009-10, within a period of five years. Among the large PSBs, State Bank of India’s SME credit exposure grew 23.66 per cent to Rs 52,269 crore as on March 31, 2007 as against Rs 42,267 crore as on March 31, 2006. The other major lenders to SME sector include Bank of India with exposure of Rs 16,211 crore as on March 31, 2007 as against Rs 13,323 crore as on March 31, 2006; Canara Bank at Rs 14,245 crore (Rs 11,619 crore), Punjab National Bank at Rs 14,511 crore (Rs 11,689 crore) and Bank of Baroda at Rs 9,006 crore (Rs 6,854 crore). Banking industry sources said that some of the large PSBs are targeting SME credit growth of about 25 per cent this fiscal.
More Stories on : Public Sector Banks | SSI | Credit Market
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