The new government's policies and ambitious drive like 'Make in India' are in the 'right direction' and such initiatives will help banks boost their SME lending segment, Karur Vysya Bank MD & CEO K Venkataraman said here today.
"The new government is moving in right direction, but still, things have not changed much. Pro-industry policies as well as 'Make in India' pitch by our PM is yet to make any major impact on industry. For some reasons, there is not enough demand in the market. We are also not seeing any new investment coming in," he told reporters.
He was, however, hopeful of seeing positive results in the near future.
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"We should understand that things can't change overnight... We should give some more time. Due to huge fiscal deficit, government spending is yet to start. Banking sector is also hopeful of getting new business. I am sure that Make in India will push our SME lending business," he added.
Venkataraman along with other officials of the bank were here to celebrate 98th Founders' Day of the bank.
He said that KVB, which has 612 branches across India, including 15 in Gujarat, is now planning to open some more branches as part of their expansion drive.
"We want to gradually expand in the northern region, starting from Gujarat and Maharashtra. We are now making a detailed plan to add some more branches in these states," Venkataraman added.
