Seeing stress in MSME sector... had slippages of Rs 3K cr: A Manimekhalai

MSMEs showing signs of stress, says A Manimekhalai, managing director and chief executive, Union Bank of India

The uptick in capital expenditure will help grow the corporate book and interest margin, and this will also ease stress in the micro, small and medium enterprises (MSME) sector, says A Manimekhalai, managing director and chief executive officer, Union Bank of India, in an interview with Abhijit Lele. Edited excerpts:

The bank has given healthy performance and guidance of 3 per cent net interest margin for FY24, an improvement over 2.75 per cent in the last quarter of FY23. With the cost of funds rising, how is it going to be feasible?

Now the interest rate on deposits is coming