Credit for MP SMEs almost nil in 2007

According to banking industry sources, commercial banks sanctioned fresh loans of only Rs 58.79 crore only in 11 cases, which is not enough to run even 10 industries properly.

According to data available with Business Standard, Allahabad bank, Andhra Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Bank, Overseas Bank of Commerce, UCO Bank, Union Bank of India, United Bank of India and Vijya Bank have not loaned any amount to medium-sized industries in MP.

Similarly, no State Bank group has evinced interest in giving of loans to medium industries barring State of India and State Bank of Indore which have disbursed Rs 26.40 crore in 240 cases and Rs 62.59 crore in 10 cases respectively to medium industries.

Other group banks like State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Saurashtra, State Bank of Travencore and the State Bank of Jaipur gave no advances till December 31, 2007.

The bankers did not even compile data and report it to the state level bankers