Public sector lender Karnataka Bank has exceeded the amount stipulated for lending to the MSME sector. The bank has lent an amount of Rs 1,498 crore to the sector taking its growth by 24 per cent against the stipulated 20 per cent growth target of RBI, according to senior bank officials.
Public sector lender Karnataka Bank has exceeded the amount stipulated for lending to the MSME sector. The bank has lent an amount of Rs 1,498 crore to the sector taking its growth by 24 per cent against the stipulated 20 per cent growth target of RBI, according to senior bank officials.
The development was stated by the bank officials at the 18th MSME Customers' meet conducted by the Karnataka bank last week in Bangalore.
The bank has a total of 160 MSME-designated branches across India, of which 70 are in Karnataka.
The other dignitaries attending the meeting was Nagaraja Rao I P , General Manager, MSME & RBD, Syndicate Bank (lead bank) and Prabhu M, additional director (MSME), amongst others.
Some of the other talking points at the meeting were different facilities, incentives and benefits available to the MSME sector by the central and state governments.
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