The SME sector, which generates the maxumum employment, suffers from absence of bank credit as 45% of the country’s vast SME segment still rely on informal sources of funding. The sector has been slack due to general sluggish economic growth impacting their financials negatively .
“With improvement in their cash flows, we see 10-12% loan growth very much feasible this fiscal. Although, internally, we would like to aim for 14-15% growth,” SBI managing director Rajnish Kumar said on Friday in Kolkata.“We have also moved to cash flow-based financing from balance sheet-based funding,” he said at an event organised by the Confederation of Indian Indust ry (CII). SME contributes 12% of SBI’s total loan book of `15,09,500 crore.
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