State Bank of India's latest target: Rs 4-trn SME loan book by March 2024

It has become easier to do business, especially in the SME banking space, with rising pace of formalisation

State Bank of India (SBI) plans to overhaul its business model and strategies for loans to micro, small, and medium enterprises (MSMEs) to increase its market share to 20 per cent by March 2024, from over 15 per cent at present. This will require SBI to grow its SME loan book to Rs 4 trillion, from the current Rs 2.5 trillion.
 
Saloni Narayan, deputy managing director (retail business), SBI, said the bank’s market share has grown in deposits to 23 per cent and in advances to 20 per cent. But the worrisome part is the secular decline in the