State Bank of Patiala has been conferred “Special Award for Excellence in MSME lending” for its performance in lending to the MSME sector during the year 2013-14 and 2014-15 with a growth of Rs 2597 crore (annualized 23%) and Rs 994 crore (annualized 7.10%) respectively, covering the entire range of services.
S A Ramesh Rangan, Managing Director and Devendra Kumar, General Manager, State Bank of Patiala received the award on behalf of the Bank in the National Award Function held at Punjab Agricultural University (PAU), Ludhiana on Monday wherein the Prime Minister of India, Narendra Modi, was the chief guest. The award was given by Kalraj Mishra – Union Minister for Micro Small and Medium Enterprises, Government of India. The Bank is maintaining momentum in lending to this sector during the current financial year also. With a view to extend the coverage of MSME sector, the Bank has 30 MSME specialized branches.