The country's largest lender State Bank of India (SBI) is contemplating an extension in the special concession scheme for small and medium enterprises (SMEs), a senior bank official said today.
"We may relook at extending the special concession scheme to SMEs," the bank's Chief General Manager SME Business Unit Manas Kumar Nag told reporters on the sidelines of a banking conference organised by FICCI and IBA here.
SBI currently has an SME exposure of around Rs 1 lakh crore and hopes to recover over Rs 300 crore under an one-time settlement scheme for SMEs this fiscal, he said.
Currently, it charges between 8.5 per cent and 12.75 per cent for SME customers depending on the ticket-size.
Nag also said stress levels are decreasing among Indian SMEs and the number of SME accounts restructured this year is very less as compared to the same period last year.
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