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2014-07-22

Bank of Maharashtra plans to lend more to MSMEs

Bank of Maharashtra (BoM) plans to lend more to the MSME and companies in the infrastructure sector this fiscal.

Bank of Maharashtra (BoM) plans to lend more to the MSME and companies in the infrastructure sector this fiscal.

 

Sushil Muhnot, Chairman and Managing Director, Bank of Maharashtra said, “BoM had registered a 33.74 per cent growth in credit flow to the MSME sector last year and is eyeing a similar growth rate this year.”

 

“Every year, there has been growth in MSME funding and we expect similar growth this year,” Muhnot added further.

 

Muhnot said the bank was upbeat about increasing its infrastructure portfolio to around 17 per cent this fiscal from the present 14.39 per cent at the end of March 2014.

 

To increase the flow of bank credit to the infrastructure segment, the Reserve Bank of India has exempted long-term bonds used for funding such projects from the maintaining the cash reserve ratio and the statutory liquidity ratio.

 

Muhnot said the bank expects to launch such long-term infrastructure bonds in the next six months. The bonds would be having a minimum maturity period of seven years.

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