Page 3 - Sidbi

Amid SVB crisis, SIDBI's FoF gets into action to support start-ups

Fund of Fund for start-ups (FFS) managed by SIDBI's venture capital arm has given money to AIFs, which are in turn supporting over 800 start-ups

Sidbi partners with VFS to extend MSME loans up to Rs 5 lakh at 13% pa

The Small Industries Development Bank of India (SIDBI) has entered into a partnership with VFS Capital to extend loans to the MSME sector, the Kolkata-based microfinance institution said. VFS Capital will extend MSME loans upto Rs 5 lakh at 13 per cent interest rate per annum, a top company official said. "We have tied up with SIDBI to provide loans to the SME and MSME sectors. VFS Capital expects to disburse Rs 30-40 crore under the scheme this fiscal, MD and CEO Kuldip Maity said. The loan book of the MFI during 2022-23 is expected to be around Rs 1,100-1,200 crore from Rs 805 crore in the last financial year, he said. Maity said the company is planning to expand its footprint in the north-western part by launching operations in Rajasthan by the end of January. At present, it operates in 13 states including West Bengal, Assam and Tripura. VFS Capital also plans to add 35 branches within this fiscal, taking the number to 270 across the country. We aim to raise Rs 100 crore in .

SIDBI to partner with AMFI to support Bengal's women entrepreneurs

Small Industries Development Bank of India (SIDBI) will partner with the Association of Microfinance Institutions of India (AMFI) to support women entrepreneurs in the backward districts of West Bengal. Deputy Managing Director of SIDBI, Sudatta Mandal, said that the women entrepreneurs will also be helped in terms of getting market and credit linkages. Speaking at the AMFI-WB micro-finance summit here, Mandal said SIDBI has already spearheaded the project in Odisha and it has been very successful. "Six backward districts of West Bengal have been identified for this purpose and 12,000 women will be given credit so that their incomes rise. This will be a two-year intervention by SIDBI," he stated. By this intervention, the average income of women will rise by at least 30 per cent, Mandal added. Alok Mishra, CEO of MFIN, a self-regulatory organisation (SRO) in the micro-finance sector, said the basic idea is of financial inclusion which had been the focus of successive governments s

SIDBI identifies MFIs to provide enhanced support for micro-lending

Speaking at Business Standard's BFSI Summit, Ramann added that the state-owned small industries lender said that it is once again looking at how to bring capital to micro finance institutions

BS BFSI Insight Summit 2022: Fireside chat with SIDBI Chairman S Ramann

Ramann joined Sidbi in the midst of the second wave of Covid-19 pandemic, he has been involved in crafting policies for providing timely liquidity, and schemes for restructuring support to MSME sector

Govt-owned NaBFID plans to increase headcount to 150 by end of FY24

MD Rai says it will venture into rating banks and instruments by December

NITI Aayog-led $1 billion fund for two-, three-wheeler EV financing soon

The fund will be used to provide guarantees against defaults on loans taken to buy electric two-, three-wheelers

SIDBI approves Rs 600 cr for industrial cluster development in Maharashtra

These ITIs are generally located near the industry clusters so that after completing their training, tradesmen can for apprenticeship in different industry clusters

Union Bank of India to sell its 8% stake in ISARC to Dhansamridhi Finance

Union Bank of India on Wednesday said it will sell its 8 per cent stake in India SME Asset Reconstruction Company.

Odisha gets Rs 837 cr Sidbi loan to develop MSME clusters

Small Industries Development Bank of India (Sidbi) has sanctioned a Rs 837-crore support under its cluster development fund scheme to Odisha to help develop 18 MSME infrastructure projects. The funding from the nation's principal financial institution for micro, small and medium enterprises will be to the Odisha Industrial Infrastructure Development Corporation, which is the implementing agency. The projects include development of five new MSME parks, construction of 11 workers hostels and two projects to support MSME infrastructure. Under its cluster development fund scheme, Sidbi extends moderately priced loan assistances to the states for upgrading various existing MSME clusters as also to create new industrial infrastructure. Sidbi chairman Sivasubramanian Ramann said the focus will be on clusters in sectors/sub-sectors which can directly benefit the MSMEs and to bring them to a next level wherein they emerge vibrant by moving higher on the value chain and remain sustainable.

Sidbi keen on coming out with venture debt scheme, says CMD S Ramann

"Sidbi is very keen on coming out with a venture debt scheme," Ramann said at an event organised by Indian Venture and Alternate Capital Association.

Financial institutions need to be more people-centric for next 25 years: FM

For the next 25 years, we (financial institutions) have to be a lot more people-centric and try to see what they want, said Finance Minister Nirmala Sitharaman

SIDBI ties up with Bihar government to promote MSME sector in state

The Small Industries Development Bank of India (SIDBI) has tied up with the Government of Bihar to promote the micro, small and medium enterprises (MSME) sector in the state. To this effect, two memoranda of understanding (MoU) have been signed between SIDBI and the industries department, Government of Bihar, and the Bihar Industrial Area Development Authority (BIADA) to develop the MSME ecosystem in the state. Under the first MoU with Bihar's industry department, project management units (PMUs) will be deployed by SIDBI with the state government, SIDBI said in a statement on Wednesday. The PMU will support the state government in making necessary interventions for focused engagement of SIDBI with Bihar, with the objective of facilitating development of the MSME ecosystem. It will support the state government in making necessary interventions for focused engagement of SIDBI to facilitate development of the MSME ecosystem in the state. According to the second MoU, SIDBI will work i

SIDBI sanctions Rs 650-crore loan to AU SFB and Jana SFB

An amount of Rs 530 crore has already been released to these SFBs

SIDBI signs MoU to develop MSME ecosystem in West Bengal

SIDBI has signed a memorandum of understanding with the government of West Bengal to develop the MSME ecosystem in the state, a SIDBI official said on Friday.

Microfinance sector sees 3x rise in disbursement value in Q1: Report

However, 1-179 days past due delinquency increased in June 2021 to 31.44%, from 13.59% in March 2021

Google to chip in Rs 110 cr for MSME lending project in pact with Sidbi

Sidbi anchors programme for micro enterprises with loans up to Rs 1 cr at subsidised interest rates

SIDBI launches second window of Swavalamban Challenge Fund

Small Industries Development Bank of India (Sidbi) on Monday said it has launched the second window of Swavalamban Challenge Fund (SCF) with Green Bharat as prioritised theme.

Track up to 29-day dues in micro-loans to contain slippages: Sidbi

Advises caution amid easing of stress, evident from improved collection efficiency

Sidbi launches various MSME cluster development focussed initiatives

Small Industries Development Bank of India (SIDBI) on Monday said it has launched various micro, small and medium enterprises (MSMEs) cluster development focussed initiatives