Karnataka Bank exceeds stipulated MSME lending target | SupportBiz

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Karnataka Bank exceeds stipulated MSME lending target

 
Public sector lender Karnataka Bank Ltd has lent an amount of Rs 1,498 crore to the MSME sector, posting growth of 24 per cent against the stipulated 20 per cent growth target of RBI, said Deccan Herald.

The news was revealed by the senior bank officials at the 18th MSME Customers' meet conducted by the bank last week in Bangalore. The meeting was attended by Nagaraja Rao I P, General Manager, MSME & RBD, Syndicate Bank (lead bank) and Prabhu M, additional director (MSME), among others. The meeting also highlighted other issues like different facilities, incentives and benefits available to the MSME sector by the central and state governments.

The bank currently has 160 MSME-designated branches all over India, of which 70 are in Karnataka. These branches focus primarily on the MSME sector.

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