Sidbi

Indian companies make a beeline to raise funds from debt capital market

According to a dealer at a state-owned bank, some of the AAA-rated issuers who tapped the market today were expecting to raise funds at the levels they normally raise

CGTMSE achieves milestone of approving 10 million guarantee to MSMEs

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) on Tuesday said it has achieved a milestone of approving 1 crore guarantees to MSE beneficiaries. CGTMSE was set up by the central government and SIDBI in August 2000 to provide credit guarantees to micro and small enterprises, enabling them to access credit without the need for collateral and third-party guarantees. To mark the occasion, an event was organised, and attended by CGTMSE chairman Manoj Mittal and CEO Manish Sinha and representatives of various banks, including State Bank of India, HDFC Bank and Union Bank, and MSMEs. During the occasion, three Micro and Small Enterprises (MSE) borrowers and three prominent Member Lending Institutions (MLIs) were felicitated which have played a significant role in this achievement, CGTMSE said in a statement. Speaking at the event, Mittal emphasised the transformative impact of credit guarantees on the MSE ecosystem, enabling businesses to access funding without .

NBFCs eye Rs 5,000 crore through bond issuances over next one week

Sidbi raises Rs 8K cr, single-largest by a non-bank so far in FY25

Financial institutions plan to raise up to Rs 8,750 cr via bonds Tuesday

The bonds have received a AAA rating from India Ratings

Sidbi partners C2treds, UGRO Capital to facilitate loans to MSME sector

Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the MSME sector. SIDBI has onboarded C2treds, a platform that offers MSMEs liquidity within 24 hours through an online bidding process, C2FO said in a release. C2FO is an on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide. "Through this strategic collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates," it said. C2treds operates under the Trade Receivables Discounting System (TReDS) initiative which enables the discounting of invoices and is regulated by the Reserve Bank of India (RBI) to support the MSME sector in India. As the apex institution for the promotion and development of MSMEs, SIDBI is fully committed to increasing the flow of credit to MSMEs. TReDS has become an effective tool for the prompt realization of MSMEs' receivables and

Manoj Mittal takes charge as Sidbi's CMD after appointment by Centre

Manoj Mittal has taken charge as Chairman and Managing Director of Small Industries Development Bank of India (SIDBI), following his appointment by the Centre. Prior to this, he was the managing director of Industrial Finance Corporation of India (IFCI). Mittal has over 33 years of experience in the financial services sector, including his previous tenures as MD and CEO of IFCI and Deputy Managing Director at SIDBI, an official statement said.

Pilot study to enhance viability of 60 fair price shops underway: Govt

A pilot study is underway in the country to enhance the viability of 60 fair price shops, also called ration shops, across four cities -- Hyderabad, Ghaziabad, Jaipur and Ahmedabad, Parliament was informed on Wednesday. This initiative, supported by the Centre in collaboration with respective state governments, aims to provide essential assistance to Fair Price Shops (FPS) operators through partnerships with the Small Industries Development Bank of India (SIDBI) for working capital and B2B online wholesale aggregators focusing on nutritional products. In a written reply to the Lok Sabha, Minister of State for Food and Consumer Affairs Nimuben Jayantibhai Bambhaniya, said in a broader effort to bolster FPS operations, the government has urged state and Union Territory (UT) administrations to introduce additional services at these shops. Proposed services include Common Service Centre (CSC) functionalities, banking partnerships with banks and corporate correspondents, and the retail .

Union Budget 2024: Here's what startups, investors expect from Modi 3.0

Expectations rise for investments, simplified tax norms, and sectoral support

Sidbi to tap humble postmen to support micro-entrepreneurs across country

Due to our lending obligations, we cannot directly lend, we are utilising Sidbi to provide the loans. Approval from the Reserve Bank of India is still pending, Senior official from IPPB said

Sidbi bats for sustainable development of MSMEs; pilots several projects

Small Industries Development Bank of India (SIDBI) has been making efforts for sustainable development of the MSME sector, which plays a key role in the economy, a senior official of the financial institution said on Thursday. Deputy Managing Director of SIDBI, Sudatta Mandal, said it has taken proactive steps to make the MSME eco-system green with several financial and non-financial engagements. Speaking at an interactive session on the occasion of International MSME Day organised by the MCCI, Mandal said SIDBI has launched various lending products on competitive terms to facilitate energy-efficient transition of the MSMEs. "In the green space, SIDBI has piloted several projects and validated models such as Partial Risk Sharing Facility for energy efficiency programme supported by the World Bank with a corpus of USD 37 million, he said. Mandal said SIDBI has made continuous efforts for holistic development of the MSME sector, which now contributes to 45 per cent of India's exports

Infosys ranked 74th most valuable global brand in Kantar BrandZ report

Infosys has secured a spot among the 100 most valuable brands in the world, according to Kantar, the Bengluru-headquartered IT services company said on Wednesday. In its annual 'BrandZ Most Valuable Global Brands' report, Infosys is ranked as the 74 most valuable brand in the world and ranked as the 20 most valuable global B2B (business to business) technology brand, according to a release. The Kantar BrandZ recognition is a validation of the client trust that Infosys has earned, and the relevance of its capabilities, especially in domains like enterprise AI where technologies like generative AI and cloud continue to evolve, the release added. **** CredAble raises Rs 3 crore from SIDBI * Fintech firm CredAble on Wednesday said it has raised Rs 3 crore in debt funding from SIDBI to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India. The funding from SIDBI will further accelerate the development of new market-leading financ

AI startup Myelin Foundry raises $4 mn in round led by SIDBI Venture Cap

Company says it will use money to expand in international markets and strengthen technology

Sidbi plans to raise Rs 5,000 cr via rights issue next financial year

Small Industries Development Bank of India (SIDBI) on Tuesday said it plans to raise Rs 5,000 crore from rights issue next financial year to fund business growth. The refinancing entity for SME finance is witnessing a strong credit growth and to further grow the business, capital would be required, he said. The bank is looking to mobilise Rs 5,000 crore from rights issue in the next fiscal, SIDBI chairman and managing director S Ramann said on the sidelines of launch of a credit programme for Jan Aushadhi Kendras here. He said the government is the biggest shareholder and SIDBI has approached them requesting their participation in the rights issue, he said. Government of India holds a 20.85 per cent stake as of March 31, 2023. Besides this, State Bank of India owns 15.65 per cent, while the share of Life Insurance Corporation of India (LIC) stood at 13.33 per cent as of March 31, 2023. The rest is held by other Public Sector Banks (PSBs) and institutions. He said the loan book of

Sidbi secures first green climate fund project worth $120 million

Development bank Sidbi on Monday said it has secured approval from the Green Climate Fund (GCF) for its first anchored project, Avaana Sustainability Fund (ASF), valued at USD 120 million. The closure was announced at the 38th board meeting of the GCF, which will invest USD 24.5 million in the fund, in Kigali, Rwanda, on March 5, Sidbi, an accredited entity of GCF, said in a statement. The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in the country. The anticipated outcomes include significant contributions to climate change mitigation, adaptation, and the enhancement of resilience in vulnerable sectors of the economy. This is the first project anchored by Sidbi including the first secured for the country in the past few years and will go a long way in advancing the country's nationally determined contributions by effecting substantial global changes through its proficiency in .

Fund of Funds commits Rs 9,500 crore for startups, says Sidbi chairman

SIDBI chairman S Ramann on Friday said that the Fund of Funds for Start-ups (FFS) has committed Rs 9,500 crore for the promotion of new ventures in the country. The FFS was unveiled by the Prime Minister on January 16, 2016, in line with the Start-up India Action Plan. It has approved a corpus of Rs 10,000 crore for contribution to various Alternative Investment Funds (AIFs) registered with SEBI. Introduced with a focused objective of supporting development and growth of innovation-driven enterprises, FFS facilitates funding needs for start-ups through participation in the capital of SEBI-registered Alternative Investment Funds. The commitment of Rs 9500 crore has led to over 100 AIFs raising Rs 56,000 crore more, he said at TiEcon Delhi 2024 conference here. "It's really a staggering figure. The ability of all of you (AIFs) to go out and bring in that kind of money from your foreign Limited Partners (LPs) convince the Indians to become LPs," he said. Observing that AIFs space is

MSME loan portfolio's delinquency rate down to two year low of 2.3%: Report

The availability of enriched and timely credit data and rapid implementation of digital lending infrastructure has contributed significantly towards enhancing lender confidence, it said

Bihar govt, SIDBI join hands to collaborate on enhancing startup ecosystem

The Bihar government and the Small Industries Development Bank of India (SIDBI) have signed an MoU in a bid to boost the startup ecosystem in the eastern state, officials said. The initiative is aimed at creating a conducive environment for startups and transforming Bihar into a startup hub, a SIDBI release said. "The Bihar Startup Fund Trust (BSFT) and SIDBI entered into an MoU to administer the Rs 50-crore Bihar Startup Scale-up Financing Fund' (BSSFF), it said. The BSFT is the nodal agency constituted by the Industries Department for implementation of the Bihar Startup Policy. Under the policy, the state government has set up the BSFT with an initial corpus of Rs 500 crore. Out of this, BSSFF has been established with an initial corpus of Rs 50 crore for scale-up funding support to startups, the release said.

'Sidbi's outstanding to MFI sector to touch Rs 10,000 cr this fiscal'

Outstanding of SIDBI to the micro-finance institutions (MFIs) will touch Rs 10,000 crore by the end of the current financial year ending March 2024, an official said on Thursday. In the last financial year, the refinancing development financial institution (DFI) had an outstanding of Rs 5,000 crore to the NBFC-MFI sector, the official said. "SIDBI started supporting MFIs since 1995-96 and has done enough capacity building for the MFI sector. Last fiscal, the total outstanding to the MFIs was Rs 5,000 crore. This fiscal, this will touch Rs 10,000 crore", Deputy managing director (DMD) of SIDBI Prakash Kumar said. Kumar told PTI on the sidelines of the Eastern India Microfinance Summit here that the the DFI expects this outstanding amount to rise 40 per cent during the next financial year. He said to gauge the impact assessment of the MFIs in the society, SIDBI has commissioned a study which is being conducted jointly by the self-regulatory body Sa-Dhan and Indira Gandhi Institute of

Sidbi commits over Rs 100 cr for entrepreneurship projects in Nagaland

SIDBI has entered into an agreement with the Nagaland government, committing over Rs 100 crore for entrepreneurship projects in the northeastern state. Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of the Ministry of Finance. SIBDI Chief General Manager Subhransu S Acharya, during an event on Tuesday night, said it would fund four projects, including setting up of industrial infrastructure for MSMEs under cluster development fund and Swavalamban Connect Kendras (SCK) for all the 16 districts to boost the spirit of entrepreneurship. SIDBI also announced sports scholarships of Rs 5 lakh each for the training of five promising sportspersons. It would also provide seed funds to support the entrepreneurs in their startup journey. Nagaland Advisor for Industry and Commerce Hekani Jakhalu Kense and SIDBI Chairman and Managing

Rooftop solar charges up electric vehicle boom in India's smaller cities

Rajasthan, Gujarat, and Kerala see more users