SIDBI to disburse Rs 2000 cr in East, open 35 new branches

Kolkata, Jun 6(UNI) Small Industries Development Bank of India(SIDBI) has planned to expand its retail presence through 35 new branches for the SMEs by 2009-10.

Speaking to UNI today, SIDBI Zonal Manager K S Singhwan said the bank would open 20 branches this fiscal foillowed by another 15 in the next fiscal.

''We offer term loans and many other loan schemes, apart from various promotional activities, through our existing retail branches which are targeted towards the Micro and Small&Medium Enterprises (SMEs),'' he said.

The bank has set a target to disburse Rs 2000 crore in eastern India this year. Out of this Rs 550 crore would be disbursed for Bengal.

Last year, SIDBI had disbursed Rs 400 crore and Rs 10,000 crore nationally in 2006-07.

UNI