The banks in the state of West Bengal have registered an annual growth of near 25% in advances to the micro small and medium enterprises (MSME). The bank disbursed Rs. 2812.48 crore in the FY11-12.
The SLBC data released saw a maximum share of advances to small enterprises, which borrowed Rs. 1322.86 crore, followed by micro with Rs. 1101.08 crore.
On the whole public sector banks lent Rs.1207.59 crore, private sector banks were not too far behind with Rs. 1067.19 crore of advances. Five regional rural banks (RRB) also contributed Rs. 537.70 crore towards MSME credit flow.
State Bank of India and Punjab National Bank led the pack amongst the PSBs and advanced Rs. 185.54 crore and Rs. 103.12 crore respectively. Private sector's top two outperformed their PSU peers; Axis Bank, and HDFC Bank disbursed Rs. 646.28 crore and Rs. 297.51 crore respectively.
The Central Government guidelines direct the banks to grow their MSME credit by 20% year-on-year basis, and 10% on number of accounts added.