Central Bank of India and fintech platform U GRO Capital signed a co-lending agreement to disburse loans worth Rs 1,000 crore to U GRO users in the next 12 months.
State-backed lending to small-sized factories has dropped for the first time in many years, signalling reduced funding to peri-urban and rural industrial projects.
Why loan disbursement alone will not be enough to help MSMEs survive the second wave of COVID-19 yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Losses touched ₹3,788 crore in the quarter ended March 31, from ₹3,668 crore in the year-ago period. The bank had reported a ₹151 crore in profit during the December quarter.
It seems the worst is behind us, recovery is very much the keyword. What will the next couple of months hold for UK businesses as they rebuild?
The much-publicised government lending programmes have enabled banks to establish new relationships with many businesses. The challenge now is how to deepen these relationships to drive profitability. Open Banking will continue to be further embraced by financial institutions and their customers.
So what will SME lending look like post-Covid?
There are two elements to consider when answering your question: lending programmes and the SMEs themselves. The past year has highlighted which SMEs are resilient, and which are not. Those that have shifted their business online, whether they’re a restaurant, a retailer or from another sector, have benefited from a significant spike in online consumption as consumer behaviours change amidst the pandemic, and many have actually become more profitable. Online is a more cost-effective way of managing