Monday, May 20, 2024

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

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.”

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

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