SREI, SIDBI sign deal to fund construction SMEs

 According to a release issued by SREI Infrastructure to the BSE today, the agreement was signed by N Balasubramanian, chairman and managing director of SIDBI, and Hemant Kanoria, vice chairman and managing director of SREI Infrastructure.

 The MoU is the first of its kind in India between a public sector financial institution and a private sector non-banking financial organisation, the release added.

 "SME entities in the construction sector are our major customers, and we are sure the new arrangement with SIDBI will enable us to further improve the availability of finance to this sector," Hemant Kanoria said.