HDFC Bank signs MOU with CBSL for Saubhagya loan scheme

Wednesday, 1 April 2015 00:37 - - {{hitsCtrl.values.hits}}

HDFC Bank CEO/GM Nimal Mamaduwa exchanges the copies of the signed MOU with Central Bank Director Regional Development Department Asoka Handagama. CBSL Additional Director D.V.S. Dayawansa, Deputy Director W. Ranaweera, HDFC Chief Manager Credit Manjula Dissanayaka and Manager Microfinance Anura Dissanayaka were also present HDFC Bank of Sri Lanka signed a Memorandum of Understanding with the Central Bank of Sri Lanka recently to offer a new loan scheme, ‘Saubhagya,’ which will focus Micro, Small, and Medium-scale Entrepreneurs (MSME) who are engaged in production and services relating to agriculture, industrial and service sectors. Under this scheme, loans are available at s concessionary rate of interest to MSMEs and maximum loan facility available is Rs. 25 million. Loans could be obtained from the 36 branches of the HDFC Bank located island wide. This newest loan scheme of the bank will cover the categories of agriculture and plantation, horticulture, animal husbandry and fisheries , production of food and beverages, garment and textile industry, footwear and leather products, gem and jewellery, wood and wood related products, light engineering works, cottage industry and handicrafts, ornamental fish farming, health care products and centers, beauty culture, hotel and restaurant, vehicle service stations and maintenance, studios and entertainments and other innovative products directly related to MSME. The bank expects to fulfill the financial needs of the existing and prospective clients and will encourage improving productivity through the ‘Saubaghya’ loan scheme. With the expansion of the product portfolio of the bank, HDFC was able to go beyond housing rudiments and now the bank’s business strategy involves empowering lives by making micro credit, small business loans, education loans, leasing and other financial services available across the country with the support of their unique mobile banking service which will also help to reach out to the unbanked segment in the country.