Tag Archive for SIDBI

SIDBI opens 84th branch at Bahadurgarh to meet credit requirement of MSMEs in the Region

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By K. Vivek Mob: 09920183006 Email: indianshowbusiness@gmail.com

Small Industries Development Bank of India (SIDBI), the principal financial institution for promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs) has opened its 84th Branch Office in Bahadurgarh (Ruhil Tower, M.I.E, Part-B), which is known as the Gateway of Haryana. The Branch Office was formally inaugurated by Shri N.K. Maini, Deputy Managing Director ( In charge).

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SIDBI to work with credit rating agencies to create specific and separate product suite for MSMEs

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

Shri S. Muhnot, Chairman and Managing Director of SIDBI, the principal financing institution for the Micro, Small and Medium Enterprises (MSMEs) sector in India, has urged credit rating agencies (CRAs) to develop specific and separate product suites for MSMEs in an attempt to make all MSMEs ‘Ratings Ready’. While speaking at the National Conference by ASSOCHAM on Credit Ratings, Shri Muhnot stated that SIDBI is partnering with CRAs to make an independent assessment or grading of a loan proposal such that the banks get an assessed SME proposal helping them to significantly enhance their lending to this sector.

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SIDBI commits Rs. 10-cr to DICCI SME Fund for Dalit entrepreneurs

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By Vivek K Mob: 00919920183006 Email: Indianshowbusiness@gmail.com

SIDBI, the apex financial institution for promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs), has become the first financial institution (FI) to support the first-of-its-kind DICCI SME Fund for investment in companies promoted by SC/ST entrepreneurs.

In the presence of Union Finance Minister Shri P. Chidambaram, SIDBI’s Chairman and Managing Director Shri Sushil Muhnot handed over a commitment letter to Shri Milind Kamble, Chairman of DICCI (Dalit Indian Chamber of Commerce & Industry) contributing Rs. 10 crore to the Rs. 100-crore corpus of DICCI SME Fund. The Fund will be largely ‘sector agnostic’ and will be investing in high growth companies (promoted by SC/ST/ Dalit entrepreneurs) that are SMEs; members of the Dalit Indian Chamber of Commerce & Industry (DICCI) and with proven track record and management capability.

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SIDBI to support banks/ NBFCs in MSME refinancing and resources

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

Small Industries Development Bank of India (SIDBI), the apex body for the development of MSME sector, has identified four major gaps in financing MSME sector in India which impacted the viability and sustainability of the sector. The four areas are risk capital/Equity, receivable financing/factoring, service sector and sustainable financing for cleaner technology and energy efficiency.

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SIDBI to support banks/ NBFCs in MSME refinancing and resources

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

Small Industries Development Bank of India (SIDBI), the apex body for the development of MSME sector, has identified four major gaps in financing MSME sector in India which impacted the viability and sustainability of the sector. The four areas are risk capital/Equity, receivable financing/factoring, service sector and sustainable financing for cleaner technology and energy efficiency. Addressing a MSME conference, Shri N K Maini, DMD, SIDBI said, “SIDBI is working on addressing identified gaps in the MSME eco system and develop niche products, processes and delivery channels to address various gaps, such as, financing both in debt and equity funding through structured and innovative products.” “We are committed to play the role of a catalyst by augment the resources of banks and NBFCs through refinance and resource support for the growth of the sector,” Shri Maini said.

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SIDBI Commemorates Foundation Day by Interacting with MSME Associations

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

Small Industries Development Bank of India (SIDBI), the apex bank for financing and development of Micro Small and Medium Enterprises (MSMEs) sector, celebrated its Foundation day on 2nd April, 2013 in Delhi by organizing an interactive meet with leading MSME associations and other organizations associated with the sector. More than 20 major associations representing the sector were present on the occasion. Shri Anurag Jain, Joint Secretary, Department of Financial Services, Ministry of Finance, GoI was also present on the occasion and had detailed interaction with the members of different associations. He assured them that feasible suggestions will definitely be examined. SIDBI has drawn a plan to organize similar meetings with the MSME associations at its regional offices across the country.

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Union Budget 2013-14 embodies strong measures for SMEs’ growth – says Mr. T.R. Bajalia, Dy. Managing Director, SIDBI

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Union Budget 2013-14 embodies strong measures for SMEs’ growth  - says Mr. T.R. Bajalia, Dy. Managing Director, SIDBI

The Union Budget 2013-14 embodies strong features of promoting investment and putting the economy on the high growth path leading to inclusive and sustainable development. With a view to giving boost to small and medium enterprises, some of the benefits extended through the sector include:

Enhancing the refinancing capability of SIDBI from the current level of `5,000 crore to ` 10,000 crore per year. This is helpful in providing credit facilities at affordable rate by SIDBI to micro, and small enterprises through banks and SFCs. This will benefit over 3.5 lakh MSEs. The Budget is quite progressive for the growth of MSME sector.

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SIDBI – Inauguration of Morbi Branch

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

left to right - Dolphy D.Mello (Branch In-charge Morbi) SIDBI, Harsh Kaul (Business Head N/W) SIDBI, S.Muhnot (CMD), SIDBI and K.C. Bhanoo (Regional Head - Ahmedabad) SIDBI

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SIDBI provides financial support to Aditya Jyot Foundation

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

The Small Industries Development Bank of India (SIDBI) has extended support to Aditya Jyot Foundation for Twinkle Little Eyes (AJFTLE) initiative to undertake awareness and eye screening camps for underprivileged children mainly in rural and urban slum areas for prevention of avoidable blindness in them. SIDBI has extended support towards conducting 70 such camps this year benefitting close to 3,000 underprivileged children .

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SIDBI & Franchising Association of India (FAI) signs MoU to work together for entrepreneurship growth in India

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By Vivek K Mob: 00919820310487 E-mail: indianshowbusiness@gmail.com

Small Industries Development Bank of India (SIDBI) and The Franchising Association of India (FAI), signed a Memorandum of Understanding (MOU) on January 10, 2012 at Mumbai in the presence of Shri S. Muhnot, Chairman and Managing Director, SIDBI and Shri C. Y. Pal, President, FAI. SIDBI and FAI have agreed to work together for entrepreneurship growth and development of MSME in the country and to have synergies in their activities to achieve this objective. FAI is an industry association representing franchisees, franchisors and service providers to the sector and SIDBI is the apex financial institution for promotion, financing and development of MSME sector in the country.

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