Monday , 29 November 2021
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­­HDFC Bank MSME loan book in Rajasthan crosses Rs. 13,000 crores in Advances

­­HDFC Bank MSME loan book in Rajasthan crosses Rs. 13,000 crores in Advances

Udaipur : HDFC Bank’s MSME loan book in Rajasthan has crossed the milestone of Rs. 13,000 crore. As of September 30, 2021, the bank’s Micro, Small, and Medium Enterprises (MSME) loan book for Rajasthan stands over Rs. 13,000 crore.

HDFC Bank’s MSME loan book in Rajasthan has grown 27 per cent in September 30, 2021, vis-à-vis quarter-ended September 30, 2020.

Under Government’s ECLGS scheme, HDFC Bank has disbursed advances to over 4,900 MSME units in the state of Rajasthan.

HDFC Bank started offering advances to MSMEs in Rajasthan in the year 2006. In the last 15 years in the state, the Bank has offered advances and supported growth plans of close to 50,000 (50,040) enterprises. These enterprises demonstrate the spirit of entrepreneurship that form the backbone of economic growth in more than 141 cities and towns covering 33 districts, of the state of Rajasthan.

“We thank our customers for the trust reposed in the bank,” said Mr. Manish Mohan, Head, Business Banking – Rajasthan & Gujarat, HDFC Bank. “MSMEs are the backbone of the economy and are amongst the largest job creators. We are proud to have been a partner in their growth journey with our world-class products. Benefiting from the conducive policy environment, the enterprising state of Rajasthan presents opportunities for MSMEs and banks alike. To meet these requirements, we’ll expand to 25 more locations in the state as well as increase our digital footprint.”

The Bank has a strong suite of products and services. Some of them are:

Cash Credit and Working Capital Loan Term Loan
Overdraft Against Property Export Finance
Bank Guarantees / Letter of Credit Purchase Order Financing / Bill Discounting / Invoice Financing
Treasury Products and Services Cash Management Services
Private Banking / Wealth Management Services Corporate Cards and digital Payment services
Investment Banking offerings for MSMEs Retail Assets Products – Auto Loans / Loan Against Property/Consumer Loans etc to promoters and promoter group

 

Majority of these products as well as services can be availed digitally, using the bank’s real-time online solutions – TradeOnNet; Netbanking; and SME Bank. In the MSME business, digital transactions comprise over 75 per cent of the total transactions.

The key sectors to which the Bank has given advances to include:

Textile Agri Industry & food processing
Metal Machinery/Equipments/Industial/Electrical Goods
Paper / Packaging Consumer Durables / Electronics / White Goods/Footwear
Healthcare and Education Handicrafts including wooden furnitures