Bank schemes for SMEs


Today Indian banks offer several user friendly schemes for SMEs. The Indian Bank is one of them which offers  financing schemes for SMEs. It hasloans  products for financing industrial clusters with finer rates of interest, which create value for customers. To enhance flow of credit to MSME,  a department  as formed as Small and Medium Enterprises Development Department, reports CIOL. This department reviews the existing policy framework to provide credit to SME’s; takes measures to centralise the processing of SME proposals in major centres; takes over SMEs from other financial agencies  or banks.

What is the SME policy of Indian Bank?
On receipt of loan application an acknowledgement is issued to the client immediately. The applicant is called for discussion within ten days after receipt of loan application. The working capital limits recommended must be need based and realistic, especially to new units. The  fund based working capital limits for Micro and small enterprises  is up to Rs. 5 crore  should be assessed based on the turn over method as suggested  by Nayak committee  Recommendations., wherein  a  minimum of 20 % of the projected turn over should be  financed by the bank or short term  bank credit method whichever is higher. For further details: For More:



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