SBI assures continued support to SMEs

Bangalore, Nov 26 (UNI) In the wake of global eonomic slowdown and consequential industrial slowdown in the country, State Bank of India, which has no liquidity problem, would take care of the needs of Small and Medium Enterprises (SMEs), an official said.

Bangalore circle Chief General Manager Mahaprali today met office bearers of industry associations like FKCCI, CII and Greater Bangalore Industries Association to ascertain their views on economy.

''SBI has no liquidity problems and it is fully geared to comprehensively take care of your needs. In fact, the SBI has recently done a large scale re-engineering and is fully geared to extend value added services to SMEs, including exporters,'' she said.

Generally, SMEs apprehend a considerable slow down in most sectors. Large and medium corporates, especially in Auto, Steel, Garments, Engineering and Iron Ore sectors show signs of slowdown, which impact smaller units also, the official said.

FKCCI President Muralidhar said presently orders were considerably reduced and delays were experienced in payments.

SMEs believe that there would be a drop of about 15 to 20% in topline in the current year.

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