SME Cluster Series 2013 - Nashik

SME Cluster Series 2013 : Nashik


Micro, Small and Medium Enterprises (MSMEs) are the backbone of the Indian economy and have been significantly instrumental in generating employment, industrialising rural areas and promoting entrepreneurship in remote parts of the country. In a fiercely competitive scenario, MSMEs have managed to outperform their global counterparts thus giving a tremendous boost to the Indian economy. Recognising the true worth of the MSME segment, Union Bank of India has been extending financial support to them by fulfilling their credit needs in a timely manner, thus nurturing their development over a period of time.

Union Bank of India provides an entire comprehensive range of banking products and services for corporate and retail borrowers, including agricultural and MSME segments through its branch network of more than 3,400 branches across India. The bank has also been actively involved in pursuing the national policies for rural development and empowerment of rural populace through its wide network of rural and semi-urban branches.

The bank’s MSME portfolio grew from ` 24,229 crore in Dec 2011 to ` 32,678 crore in Dec 2012, recording an overall growth of almost 35% y-o-y. As on Dec 2012, the share of the MSME lending constituted 18.35% of the total domestic advances. The MSME credit growth has been driven by the focus on assured turn-around-time (TAT), credit delivery at affordable prices, customised products, and enhancing the base of MSME clientele. The bank has also established 350 dedicated businessbanking branches (BBBs) and 19 SME SARALs (Central Processing Centers) for speedy appraisal and sanction of MSME Loans.

D&B and Union Bank of India present the publication D&B - Union Bank SME Cluster Series 2013: Nashik that accentuates the growth potential of the cluster across sectors.

Union Bank of India is committed to extend its best services to Micro, Small and Medium enterprises at a very competitive price and wish MSMEs a prosperous future.

Debabrata Sarkar
Chairman and Managing Director,
Union Bank of India