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Vijaya Bank’s concerted efforts to broad base its portfolio has paid off. As a broad basing strategy, bank has identified micro, small and medium enterprises as growth driver. “Our MSME portfolio recorded a growth of 22.50 per cent to reach ₹18,569 crore in fiscal 2015-16,” said a general manager of Vijaya Bank.
Outstanding advances Under Micro and Small Enterprise (MSE) sector, reached a level of ₹14,841 crore, recording 10 per cent growth. Of three targets stipulated under Prime Minister’s Task Force, bank has achieved two targets – achieved 61 per cent as against the set target of 60 per cent of total lending to MSE sector on proceeding march 31 to micro sector. Achieved 10 per cent year-on-year growth in number of accounts under micro enterprises and achieved 2 per cent year-on-year growth in credit to MSE sector.
“We are expected to grow this business in 2016-17 in view of the favourable policy environment, positive domestic outlook and the opportunities available for selective growth,” he added.
Bank is giving thrust to the growth of MSME sector by launching innovative schemes in alignment with the Centre’s initiatives such as ‘Make-In-India’, ‘Start-Up-India’, Pradhan Mantri Mudra Yojana, and Stand Up India.
To focus more on this sector, financial year 2015-16 was observed by the bank as a ‘Year of MSME’. The bank launched two new MSME products — ‘V-Swadesh’ and ‘V-Mudra Card’ Scheme — to meet specific credit needs of entrepreneurs. For hassle-free credit to micro-entrepreneurs, bank has launched ‘V-Mudra Card’ scheme to meet their working capital needs and issued 39,545 Mudra cards worth ₹173 crore.
To give further boost to the transport sector, MoUs were signed with major auto manufacturers, TATA Motors and Ashok Leyland to finance their commercial passenger/transport vehicles.
The bank has successfully implemented the Prime Minister Mudra Yojana (PMMY) scheme with a disbursement of ₹1,892 crore, covering 1.63 lakh entrepreneurs.
In recognition of the bank’s contribution to MSME sector, bank was awarded following MSME Banking Excellence awards instituted by Chamber of Indian Micro, Small and Medium Enterprises, New Delhi.
The other accolades bank has got are — Best Bank under ‘MUDRA’ Yojana for emerging Bank-Winner and Best Bank for Promotional schemes under emerging Bank-Runner Up.
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