Corporation Bank to achieve Rs 20,000 crore loans to SMEs

Corporation Bank, a Mangalore-based lender aims to achieve Rs 20,000 crore loans to small and medium enterprises (SMEs) by March 2013. It has launched a credit scheme that charges 11.10% against from 11.60% on loans up to Rs 1 crore to the SME sector, in order to encourage SME lending.

At present, banks SME segment contributes to about 15% of the total credit. In its festival offer, the bank is also giving an additional 25 percentage point discount to women entrepreneurs along with 50% waiver in processing fees.