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2010-03-08

SBI to achieve 35% growth rate in the SME segment

With a target to finance Rs 2,000 crore to the micro small medium enterprises (MSME) this year, the State Bank of India hopes to achieve 35 per cent growth in the segment in 2009-2010.

With a target to finance Rs 2,000 crore to the micro small medium enterprises (MSME) this year, the State Bank of India hopes to achieve 35 per cent growth in the segment in 2009-2010.  

Suriendar Kumar, chief general manager, Bengal circle said that SBI was already close to fulfilling its target for the year. The total exposure of the circle in the MSME segment currently stands at Rs 8,200 crore and accounts for almost 47 per cent of the total advances of the bank in the region and s 16, 000 crore over the next three years, Kumar said.  

The circle has financed close to 600 units and disbursed about Rs 90 crore to the MSMEs under its SME Care and SME Help schemes where the interest rate is 8 per cent. The share of SBI in total SME finance during 2008-09 was 22 per cent in West Bengal. 

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