Reported by: banking|Updated: November 28, 2019
HDFC Bank has been adjudged ‘Best MSE Bank’ at the 2nd SIDBI-ET India MSE Awards 2019. The award is in recognition of the bank’s strong MSME portfolio with advances to this segment standing at over Rs 1.25 lakh crore as of 31 March 2019. The Bank is catering to the requirements of MSMEs through its strong suite of world class products and services. Rahul Shukla, group head, Corporate and Business Banking of the bank, received the award from Anurag Thakur, minister of state for Finance at Delhi. The bank offers cash credit and working capital loans, term loans, overdraft against property, export finance, bank guarantees/LCs, purchase order financing and bill discounting and cash management services to MSMEs. The second edition of SIBBI-ET India MSE Awards is platform created by SIDBI and Economic Times to recognize and reward performers in both the micro and small enterprise categories for some outstanding achievements in the manufacturing and services sector.