Insta
SBI Disburses Loans Worth Rs 3,000 Crore In A Single Day To MSME Units Under Centre’s Credit Guarantee Scheme
State Bank of India chairman Rajnish Kumar. (Business Standard)
Government's credit guarantee scheme for micro, small and medium enterprise (MSME) sector to a total amount of Rs 3 lakh crores has taken off with a robust start as the State Bank of India (SBI) alone on Tuesday (2 June) gave out loans worth Rs 3,000 crore to as many as 22,000 MSME units, reports Economic Times.
SBI chairman Rajnish Kumar on Tuesday said that the bank in a single day disbursed about Rs 3,000 crore in total to 22,000 units in the MSME sector.
"A scheme like guarantee scheme for the SMEs, it has capital implications for the banks. In a way, this Rs 3 trillion means Rs 30,000 crore further capitalisation also has happened indirectly for the banks,” Kumar was quoted in the report as saying.
Kumar also asserted that the reports painting a troublesome future for the banks with risk of a rise in non-performing assets (NPAs) were overstated. However, he also underscored that there remains uncertainty in the economy over how the next six months will shape up for the banking sector.
Further, seeking to clear the air on the perception that the banks were not lending and that they had grown risk-averse, Kumar said that there is a fine line between risk aversion and risk prudence.
"But I want to ask, is the risk aversion from the lenders or the borrowers?" Kumar said.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
