People's Bank loan schemes to empower SMEs

Small and Medium Scale Entrepreneurs are the backbone of the economy and the People's Bank has launched a number of schemes to empower them. The Government has pledged support to this vital segment of the economy and President Mahinda Rajapaksa invited the country's banking network to join this endeavour. "In response to this call to action, People's Bank took up the challenge and is steadily delivering this promise through unique loan schemes," a bank spokesman said.

As per the Budget proposal in 2011, the People's Bank opened separate service centres for the convenience of small and medium scale entrepreneurs. It opened special units, in seven districts, for small and medium scale entrepreneurs. In addition to the 732 branches of the bank, these special units were set up to overcome difficulties that may arise in carrying out other general banking operations along with the services related to Small and Medium Scale Entrepreneurs.