SBoP launches SME Bonanza for Small and Medium Entrepreneurs

PATIALA: The Managing Director, State Bank of Patiala A.C. Varma on Monday formally launched a Two month long campaign "SME Bonanza".

 



Outlining the scheme Varma said that under the scheme fresh loans to Small and Medium Enterprises (SMEs) for business purposes will be sanctioned at concessional rates. Bank will give an across the board concession of 0.50% per annum in interest rates to all customers who avail of the loan facility during the  period and also full waiver of processing,  upfront fee and mortgage fee.

There will be Lucky Draws for the customers who avail loans during this period. Fifty lucky draw winners will be entitled for an additional concession of 2% per annum in interest rates upto 31.3.2010. 

The Bank has set a target of Rs.1000 crores advance during the campaign to the SME segment facilitating significant liquidity injection to the manufacturing and service sector.

Varma appealed to the staff that they should work whole heartedly to make the scheme a success.

Also present on the occasion were Shri Dinesh Bhatia General Manager (Planning & Development) and other high officials of the Bank.