Close on the heels of the Union Budget proposal on a five percentage point cut in corporate tax to 25 per cent for businesses with a turnover of up to Rs 50 crore, State Bank of India (SBI), which accounts for almost half of the banking sector’s SME portfolio, said it is working on a scheme [&hel…
Tag: Rajnish Kumar
RBI for review of SME rating
The Reserve Bank has asked the Indian Banks’ Association (IBA) to review the existing criteria for rating of loans to Micro, Small and Medium Enterprises (MSMEs), which are blamed for slower credit off-take to the sector. Sources said this came after India’s largest public lender State Bank of In…
SBI aims at a minimum 12% SME loan growth
State Bank of India BSE – 0.55 %, the country’s largest lender, looks to grow loans to small and medium enterprises by at least 10-12% this year with gradual improvement of their order book position and cash flows while the corporate sector continues to be under stress. Last fi…
SBI to offer financing to farmers through corporate partnerships
State Bank of India (SBI), country’s largest commercial bank has signed a MoU with Jain Farm Fresh Foods Limited (a subsidiary of Jain Irrigation Systems Limited). The new tie-up will help farmers associated with Jain Farm Fresh Foods Limited to avail finance against receivables due from the comp…