THIRUVANANTHAPURAM, APRIL 5:
State Bank of Travancore (SBT) has come in for special recognition at the highest level for efforts in lending to the micro and small enterprises.
Government of India chose SBT (from among State Bank of India associates) for the national award for excellence in lending to micro and small enterprises for 2011-12, an official spokesman said here.
SPECIAL SCHEMES
P. Nanda Kumaran, managing director of the bank, received the award from K.H. Muniyappa, Minister of State for Micro, Small, Medium Enterprises (MSME), at a function held in Delhi on Wednesday.
SBT has formulated various special schemes for financing micro, small and medium enterprises, the spokesman said.
This includes collateral-free loans to micro and small enterprises in the manufacturing and service sectors with a limit of up to Rs 50 lakh and on a selective basis up to Rs 100 lakh.
These loans are covered under the credit Guarantee Trust for Micro and Small Enterprises scheme.
MAJOR INITIATIVES
The bank has an exclusive MSME business department at the head office to coordinate the developmental activities related to these enterprises at various operational levels.
All SBT branches, now more than 1000, extend loans to all eligible activities under the manufacturing and service segment.
The bank has opened retail assets and small and medium enterprises city credit centres at nine cities, identified 150 intensive MSME branches and 5 specialised MSME branches.
VEHICLE FINANCE
SBT has also entered into a memorandum of understanding with commercial vehicle manufacturers such as Ashok Leyland, Tata Motors, Eicher Motors, Bajaj Auto and TVS Motors financing purchase of passenger and goods vehicles.
The bank stood first in all three previous years with respect to lending under the Prime Minister’s Employment Guarantee Programme.
This year (2012-13), the bank has financed for 423 projects under the scheme against a target of 187, the spokesman added.
