PROVIDING EFFECTIVE RELIEF MEASURES TO MSMES

Vibrant and dynamic in nature, Micro, Small & Medium Enterprises (MSME) and Small & Medium Enterprises (SME) play a crucial role in India's economy.

SBI'S SME portfolio is about Rs 2 lakh plus crore with 1.4 million customers, and MSMES constitute a significant portion of the portfolio. When the Covid pandemic left its impact on various sectors, State Bank of India came to the rescue of the MSMES immediately. MSMES formed a crucial part of the announcements made under the ‘Atmanirbhar Bharat Abhiyan’ by GOI.

Apart from extending deferral of interest dues and moratorium on Term loan repayments, SBI has been at the forefront in providing relief measures to SME borrowers affected by the lockdown, by extending 10% of fund based working capital limits as CCECL (Common COVID 19 Emergency Credit Line) and easing of working capital finance. During the lockdown, to empower the MSMES, SBI SUPPORTING MSMES AND BUSINESS ENTERPRISES Responding quickly after issue of ECLGS guidelines by NCGTC, SBI rolled out the Guaranteed Emergency Credit Line Loan Product to support business enterprises. The pre-approved product is made available within 5 days on sending notification to customer and acceptance. Under Guaranteed Emergency Credit Line (GECL), the bank has so far sanctioned GECL aggregating Rs 19000 crores to 4 lakh MSME customers and disbursed loans worth Rs 13000 crores. Revamp of SME structure:

SBI has created a new position of AGM SME across 80 Administrative offices to improve the connect with SME customers and function as a single point of contact. COVID-19 INITIATIVES & ENABLERS FOR MSMES The Bank provided immediate support to MSMES by extending moratorium for Term Loans. Other enablers include - deferment of Interest on Working Capital, sanction of pre-approved CCECL (for WC limits upto Rs 5.00 crore in Sole Banking), smooth roll out of GECL. SMS was sent to all eligible customers immediately advising availability of the product. About 4 lakh GECL loans have been sanctioned and Rs 13000 Crores have been disbursed so far. COVID Emergency Credit Line (CECL):

Till now 1,35,992 loans have been sanctioned aggregating Rs 8975 Crores. Further, 21,345 loans disbursed aggregating Rs 3218 Crores. The purpose of the CECL is to meet the temporary liquidity mismatch confronting the SMES arising out of Covid-19. Restructuring of MSME accounts:

SBI has been proactively restructuring of stressed loans under the RBIS Scheme for restructuring MSME accounts.