Non-public sector HDFC Financial institution on Friday stated the financial institution’s micro, small and medium enterprises mortgage guide for Tamil Nadu crossed Rs 20,000 crore as of September 30, 2021.
The financial institution was the second largest financial institution within the state with a market share of over 10 per cent, HDFC Financial institution stated in an announcement right here.
HDFC Financial institution has been providing advances to MSMEs in Tamil Nadu from 2004 and within the final 17 years it has supported the expansion plans of over 60,000 MSME enterprises within the State.
“MSMEs are the spine of the economic system and are among the many largest job creators. We’re proud to have been a associate of their development journey with our world-class merchandise. We thank our clients for the belief reposed within the financial institution”, HDFC Financial institution, Head-Enterprise Banking, Tamil Nadu, Arun Aravind stated.
“Benefiting from the conducive coverage surroundings, the enterprising state of Tamil Nadu presents alternatives for MSMEs and banks alike. To fulfill these necessities, we are going to develop to twenty areas within the State in addition to enhance our digital footprint”, he stated.
The financial institution has been providing its merchandise beneath money credit score, working capital mortgage, time period mortgage, overdraft in opposition to property, export finance amongst others, to MSMEs working within the state.
A few of the key sectors the Financial institution has given advances within the MSME portfolio embody textile, steel, paper and packaging, healthcare, meals processing, shopper sturdy, amongst others.
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