The Hindu Business Line : ‘Genuine requirements of SMEs being fully met’

Kolkata, Nov. 24 State Bank of India has imposed no curbs on SMEs (small and medium enterprises), either in regard to sanctioning of new loans or extending existing limits, according to Mr J.K. Sinha, Chief General Manager, SBI, Bengal Circle. “The genuine requirements of SMEs are being fully met,” Mr Sinha observed while addressing a meeting of the representatives of SMEs organised by the bank here on Monday.

In 2008-09, SBI in Bengal Circle hoped to surpass the target of providing an additional loan of Rs 2,600 crore to SMEs. As on March 31, 2008, the bank’s loans to SMEs in Bengal Circle amounted to Rs 7,200 crore, which jumped by Rs 1,000 crore to reach more than Rs 8,230 crore till October this year i.e. first seven of the current fiscal. “We hope to provide more than Rs 1,600 crore in the remainder of the financial year,” he said.

The majority of the problems facing SMEsrelated to exposure to exports and iron and steel industry.

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