Day: June 2, 2025

SBI fuels PSU Banks’ profit surge to record ₹1.78 lakh crores in FY 25; contributes 40% alone

SME E-NewsLeave a Comment on SBI fuels PSU Banks’ profit surge to record ₹1.78 lakh crores in FY 25; contributes 40% alone

SBI posted a consolidated net profit of ₹77,561 crores (approximately $9.2 billion) in FY 25. According to Bloomberg data, this places SBI among the world’s most profitable companies, alongside global giants such as Alphabet, Apple, NVIDIA and JPMorgan Chase. State Bank of India (SBI), the country’s largest public sector lender, has emerged as the most […]

Continue Reading

New credit cover for MSMEs may be extended to select services

SME E-NewsLeave a Comment on New credit cover for MSMEs may be extended to select services

The Indian Government is exploring extending its Mutual Credit Guarantee Scheme for MSMEs to specific services sectors that support local manufacturing, aiming to bridge the higher credit gap faced by services. With the services sector facing a higher credit gap, the Centre is considering extending the credit guarantee cover under the newly launched Mutual Credit […]

Continue Reading

Bank loan sanctions to MSMEs for job creation down nearly a third in FY 25

SME E-NewsLeave a Comment on Bank loan sanctions to MSMEs for job creation down nearly a third in FY 25

Bank loans sanctioned to MSMEs increased in FY 22 in the wake of the covid-19 pandemic and continued to increase till FY 24. The decline is significant since MSMEs contribute around 29% to India’s GDP. Bank loans sanctioned to India’s micro, small and medium enterprises (MSMEs) under the Prime Minister’s Employment Generation Program (PMEGP) dipped […]

Continue Reading