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SBI to have dedicated SME branches to up coverage

SBI to have dedicated SME branches to up coverage The nation’s largest lender State Bank of India, which is flush with liquidity as large corporates are holding back investments, is focusing on increasing its SME loan book by opening dedicated branches across the country.

“Earlier, we had sourcing teams and branches for SMEs, and sanction was done after being appraised by the SME city credit cell, that is a factory concept. But we have found that there is a lack of ownership in such a business model, so, we are now getting dedicated SME branches that will only do SME advances,” SBI Chairperson Arundhati Bhattacharya told PTI in an interview recently.

Banks have been witnessing rising number of defaults from large corporates, especially from the infra space, as the economy has been moribund for almost three years now, while the system as whole has not been reporting rising defaults from SMEs.

– PTI