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    small business loans news

    SBI to relax loan rules for small businesses

    18.05.12

    TRICHY: State Bank of India chairman, Pratip Chaudhuri on Saturday said that rules for sanctioning loans up to an amount of Rs one crore for small businesses and services would be relaxed to facilitate business prospects in the central region of Trichy.

    Senior SBI officials, who were here to give freebies to deserving institutions as part of the bank's corporate social responsibility said that once the Small Industrial Development Bank of India (SIDBI) gave the nod for a well-deserved, growth-oriented business proposition, the loan amount up to Rs one crore would be dished out by the bank without any collateral. This, Chaudhuri said, was being done to promote a number of small businesses, and warned that the loan facility would not be available for trading.


    Source: Times of India