SBI opened its SME Branch !
State Bank of India plans to add four more branches for small and medium-scale enterprises (SME) in 2009-10 in Chennai circle, according to J. Chandrasekaran, Chief General Manager of the bank, Chennai. He told presspersons here on Wednesday that the bank had 17 SME branches and eight branches for the mid-corporate group now.This year it would increase the total number of branches in the circle by 140.
One SME branch was opened here on Wednesday.It already had SME City Credit Centres in Chennai, Madurai and Tiruchi.The bank provided cluster- level and branch-level relationship managers to these units as SMEs required personal support. The bank was also taking efforts to build the SME cadre through special training programmes.
The business loan outstanding in the SME sector in the circle by the end of 2008-09 was Rs. 8,090 crore.In Coimbatore, advances to the sector, that excluded the mid-corporate group, were 1,435 crore and deposits 1,053 crore. Chennai circle had restructured loans for about 1,700 SMEs.
