- The bank has offered advances to over 1.34 lakh MSME units in the state so far
- To deepen penetration by expanding to 25 more locations in the state
Ahmedabad, November 17, 2021: HDFC Bank’s MSME loan book in Gujarat has crossed the milestone of Rs. 28,000 crore. As of September 30, 2021, the bank’s Micro, Small, and Medium Enterprises book for Gujarat stands at Rs. 28,432 crore. The Bank’s MSME book in Gujarat has grown 31.51% in September 30, 2021 quarter Vis-à-vis September 30, 2020 quarter.
HDFC Bank started offering advances to MSMEs in Gujarat in the year 2003. In the last 18 years in the state, the Bank has offered advances and supported growth plans of over 1.34 lakh enterprises.
These enterprises demonstrate the spirit of entrepreneurship that form the backbone of economic growth. HDFC Bank has so far extended loans to MSME customers in more than 146 cities and towns covering all 33 districts in the state of Gujarat.
Under Government of India’s ECLGS scheme, HDFC Bank has disbursed advances to over 12,250 units. The advances offered under ECLGS scheme in Gujarat stand at Rs 1,921 crore.
“We thank our customers for the trust reposed in the bank,” said Mr. Manish Mohan, Head, Business Banking – Gujarat & Rajasthan, HDFC Bank. “MSMEs are the backbone of the economy and are amongst the largest job creators. We are proud to have been a partner in their growth journey with our world-class products. Benefiting from the conducive policy environment, the enterprising state of Gujarat presents opportunities for MSMEs and banks alike. To meet these requirements, we’ll expand to 25 more locations in the state as well as increase our digital footprint.”
The Bank has a strong suite of products and services. Some of them are:
|Cash Credit and Working Capital Loan||Term Loan|
|Overdraft Against Property||Export Finance|
|Bank Guarantees / Letter of Credit||Purchase Order Financing / Bill Discounting / Invoice Financing|
|Treasury Products and Services||Cash Management Services|
|Private Banking / Wealth Management Services||Corporate Cards and Digital Payment services|
|Investment Banking offerings for MSMEs||Retail Assets Products – Auto Loans / Loan Against Property/Consumer Loans etc to promoters and promoter group|
Majority of these products as well as services can be availed digitally, using the bank’s real-time online solutions – TradeOnNet; Net banking; and SME Bank. In the MSME business, digital transactions comprise over 74 per cent of the total transactions.
The key sectors to which the Bank has given advances to include:
|Textile||Agri Industry & food processing|
|Paper / Packaging||Consumer Durables / Electronics / White Goods/Footwear|
|Healthcare and Education||Building Materials – Ceramics / Timber / Laminate / Wood and Products|
About HDFC Bank
For more information, click here: www.hdfcbank.com
For media queries please contact:
Vice President, Corporate Communication
HDFC Bank Ltd., Mumbai.
Tel: +91-22-6652 7128