SBI Delhi circle expects over 15% growth in SME loans

With focus on SMEs, SBI Delhi circle is eying loan growth in excess of 15 per cent for the sector which is a very crucial segment of the economy and thrust area of the government, a senior bank official has said.

The circle, the biggest in the SBI family in terms of business mix, has 67 branches dedicated to promote MSME sector.

"We had a base of around Rs 20,000 crore in SME segment as on March 2019 and we expect a 15 per cent increase during the current fiscal. We hope to close the financial year with Rs 23,000-24,000 crore asset book," SBI Delhi circle Chief General Manager Vijuy Ronjan said.

"It would be our endeavour bring at least 1,400 new micro, small and medium enterprises (MSMEs) customers in our fold during the current financial year beside the target given under 'Pradhan Mantri Mudra Yojana' (PMMY)," he said.

In addition to this, SBI Delhi circle will also tap customers from the 'psbloansin59minutes' portal, he said, adding this would enhance the MSME portfolio.

SME advances as proportion of total advances is about 27 per cent, he said.

Total advances of about Rs 72,000 while deposits was Rs 2.88 lakh crore at the end of March 2019.

(with news agency inputs)