· Distributed 59 loan sanction letters to SMEs and MSMEs amounting to Rs. 14.54 crore
Meerut, February 19, 2019: Mr. Rajnish Kumar, Chairman of India’s largest commercial bank State Bank of India (SBI) visited Meerut to launch ‘Sahyog and Sampark’, a 100 days campaign for SMEs and MSMEs based in the region. Mr. Kumar also distributed loan sanction letters of upto Rs. 1 crore to 59 SMEs and MSMEs beneficiaries amounting to Rs. 14.54 crore.
During his visit Mr. Kumar also inaugurated premises of Shastri Nagar Branch to offer better banking services and experience to banks’ customers. While addressing MSME and SME community in Meerut, Mr. Rajnish Kumar, Chairman, SBI said, “SME sector plays a pivotal role and contribution to the economy. If agriculture sector is the backbone of the country then SMEs gives pace to the development of the economy. Recently, Government has taken major steps for the betterment of the SME sector. With the help of digital platforms and technology, today SMEs can easily avail cheaper loans for their working capital requirement and consistent cash flow. The new directions and policies by the Government SME sector can avail loan of upto Rs. 1 crore in just 59 minutes.
SME sector not only strengthen the economy but also create employment opportunities. The Meerut city is pre-dominantly known for manufacturing of sports accessories, ornaments, scissor and printing sector and we all should collectively take this legacy further. SBI will continue to contribute towards the nation building by offering easy, timely and cheaper loans to the SME and MSME sector in India.” he added.