State Bank of India (SBI) is eyeing over Rs 20,000 crore lending business from businessmen who sign MoU with Gujarat government during the Vibrant Gujarat Investors' Summit in January 2009. SBI will have an exclusive arrangement with the state government for the investor’s meet. SBI's chairman OP Bhatt will fly down shortly to finalise the agreement with the government. Big, medium and small sized units will also get benefit of this arrangement.

"We are expecting a lending business of over Rs 20,000 crore during the summit," said HC Pattnaik, chief general manager, SBI. The bank is hopeful that the cluster-based development of industrial centres, proposed by the government as the thrust of the investors' meet, will bring in many SMEs. The exclusive arrangement will also mean a vote of confidence by the country's largest bank in the growth plans of Gujarat. SBI has already tied up with Tata Motors for the Nano project.

Sources said that Small Industrial Development Bank of India (SIDBI), a term lending agency, may also sign an MoU with the state government.

Source: http://timesofindia.indiatimes.com