The Hindu Business Line : Oriental Bank to raise SME lending in East

Kolkata, Jan. 8 Oriental Bank of Commerce (OBC), which has so far in the current year posted 43 per cent growth in advances to the SMEs (small and enterprises) sector in some of the eastern States, proposes to step up its lending further in these States.

“Right now, we have an exposure of over Rs 600 crore in West Bengal, Assam and Sikkim and our plan is to maintain the present growth rate till March,” Mr R.M. Sharma, General Manager of OBC, told Business Line. The total exposure at the end of the current fiscal should exceed Rs 850 crore.

OBC, as Mr Sharma pointed out, had taken several initiatives to maintain the growth and these included introduction of rating-based interest slabs, extending term loan facilities for SSI beyond the stipulated period, offering loans up to Rs 25 lakhs with no collateral security under the Union Government’s Credit Guarantee Trust Scheme for Small Industries, opening specialised branches, and holding credit camps.

India portfolio

At the all-India level, OBC, he said, had an advance portfolio of Rs 5,500 crore for the SMEs sector.

But then OBC’s role in West Bengal and North Eastern states, as Mr Sharma explained, was not limited only to providing funds for the promotion of the SMEs sector. “We have also taken steps to mobilise skill to foster entrepreneurships in the ,” he added.

More Stories on : Credit Market | SSI | Public Sector Banks | Oriental Bank of Commerce

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