New Delhi : The country''s largest lender SBI and few other banks will be given awards by President Pratibha Devisingh Patil for their performance in extending loans to micro and small enterprises (MSEs). As per the Reserve Bank of India guidelines, banks have to achieve 20 per cent year-on-year growth in providing credit to MSEs. Under the annual National Awards Scheme, the government recognises the efforts and contributions of the micro, small and medium enterprises (MSMEs) to the economy as well as of the banks who lend to the sector. "The SBI''s total advances increased by 82.7 per cent to Rs 77,061 crore, which is the highest among major public sector banks, in 2010-11 from Rs 42,714 crore in 2009-10," the MSME ministry said in a statement. Others awardees include Indian Overseas Bank and State Bank of Mysore. Corporation Bank lending to micro enterprises increased by 315.2 per cent to Rs 5,011.58 crore in 2010-11, from Rs 1,207.01 crore in the previous fiscal. The banks have been asked to enhance their credit flow to the sector, which contributes about 8 per cent to the country''s GDP. Besides banks, awards would be given to various (MSMEs) for their performance in categories like R&D, entrepreneurship and quality of products.
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