With advances to the corporate sector slowing down, and in some cases even turning negative, small- and medium-size enterprises (SMEs) are emerging as the new darlings on Banking Street. Private and foreign banks are rushing to offer services ranging from “match making” to online payments to get a share of this segment.
ICICI Bank is helping SMEs sell their products by putting up details on its website. It is looking at playing the role of a matchmaker too. HDFC Bank is linking its online payments with its supply chain management. SMEs can now directly make payments to corporates through this mode.
Among foreign banks, Citibank, HSBC and Standard Chartered are aggressive players in this sector.
