"With stiff competition in the market we feel the need to balance our portfolios. We need to distribute risks through consumer lending and try to acquire large numbers," said D C Jain, chief general manager and zonal head of IDBI Bank, (RBG, WEST-II).
For targeting MSME segment, IDBI Bank has schemes for wholesale and retail traders, manufacturers, professionals and self employed, medical practitioners and vendors of large and medium corporates.
"Our rates for MSMEs are very competitive. We also offer 0.50 per cent discount to borrowers who have external rating from SMERA/CARE/CRISIL/BRICKWORKS," Jain added.
The MSME portfolio of the bank, according to Jain was around Rs 1,300 crore which they plan to increase to more than Rs 2,000 crore in the next two years. While its consumer lending which mainly comprises of home loan is Rs 1,000 crore which will also be doubled in couple of years, he added.
Currently consumer lending portfolio of IDBI bank was nearly 30 per cent while remaining 70 per cent was corporate lending.
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