The Reserve Bank has asked the Indian Banks’ Association (IBA) to review the existing criteria for rating of loans to Micro, Small and Medium Enterprises (MSMEs), which are blamed for slower credit off-take to the sector. Sources said this came after India’s largest public lender State Bank of In…
Tag: SBI
SBI aims at a minimum 12% SME loan growth
State Bank of India BSE – 0.55 %, the country’s largest lender, looks to grow loans to small and medium enterprises by at least 10-12% this year with gradual improvement of their order book position and cash flows while the corporate sector continues to be under stress. Last fi…
MUDRA lends over Rs 42,000 crore in 5 months
Prime Minister Narendra Modi’s pet project, Micro Units Development & Refinance Agency (MUDRA), has disbursed over Rs 42,000 crore in the five months of this financial year. This is one fourth of its annual target of Rs 1,80,000 crore. The lending agency’s disbursals nearly double…
KVIC apathy led to loans of Rs. 551 crore turning bad: CAG
The failure of the Khadi and Village Industries Corporation (KVIC) to follow up on loans led to Rs. 551.46 crore not being recovered, and also resulted in the diversion of Rs. 226.70 crore meant for servicing loans of SBI up to March 31, 2015, the CAG said in its compliance audit report. As on Ma…
SBI to organise ‘SME Sunday’ in Vijayawada to connect entrepreneurs & industrialists
The SBI will organise ‘SME Sunday’, a programme to connect with SME customers and prospective entrepreneurs and industrialists in Vijayawada on July 24. At a press conference here on July , SBI General Manager Rajiv Kohli said that the SBI was pioneer in Small and Medium size enterprises (SMEs). …
Private banks keen to play venture capitalists to startups
Top private sector banks with deep reserves are now playing venture capitalists to startups at a time when startup valuations are sliding and angel investors have become more cautious than before. ICICI Bank , HDFC Bank and Axis Bank have formed separate lending teams to fund small startups, main…
Auctioning of mines under way, 100 blocks have also been identified for exploration| Secretary Mines
NEW DELHI, 1 June 2016: The government has already auctioned six mines and was in the process of auctioning another 50-60 mines in the near future. The aim is to auction at least 20-25 mines in the next three months. Also, in the next 45 days an Exploration Policy is in the offing, in which [&hel…
Bahrain wants India to mentor its financial technology & gaming startups
Startup India has struck a chord with Bahrain, so much so that the West Asian country wants to have its own version of the programme initiated by Prime Minister Narendra Modi. Bahrain wants Indian startups working in areas of financial technology and gaming in particular to expand base in the cou…
Snapdeal assists capital needs of 1,200 SMBs with Rs 300 crore
Snapdeal’s Capital Assist programme has reached out to 1,200 small and medium-sized enterprises across 300 cities in the country and disbursed loans of around Rs 300 crore till date. The e-tailer has tied up with 25 financial institutions under its Capital Assist programme, which includes HDFC Ba…
Amazon India-Capital First tie-up to offer loans to SMEs
Much on the lines of its competitors, e-commerce giant Amazon Seller Services on February 8 launched a seller lending programme in India, enabling small & medium businesses on its platform to get working capital loans ranging from Rs 5 lakh to Rs 2 crore. Amazon has partnered with Capital Fir…