Mumbai-based PICKmE e-Solutions India Pvt Ltd has raised Rs 12 crore ($1.79 million) from SIDBI Venture Capital Fund, according to a filing with the Registrar of Companies. SIDBI has bought 30,133 shares at Rs. 3,982.34 apiece. The gadget insurance and repair services startup will use the capital…
Tag: SIDBI
Rs 20 cr loans cleared under MSMEs’ venture capital fund in Bengal
Kolkata: About Rs 20 crore of loans were so far approved under the Rs 200 crore venture capital fund for Micro, Small, Medium Enterprises (MSMEs) in West Bengal, an official said on March 3. “Three units have so far been assisted under the venture capital fund created for MSMEs and a total of Rs …
SIDBI-CSFB pact to help MSMEs avail loans at cheaper rate
New Delhi: Lender to small industries SIDBI has signed an agreement whereby it will handhold the Capital Small Finance Bank (CSFB) to enable it to provide loans at a concessional rate to MSMEs. The Memorandum of Understanding signed between the Small Industries Development Bank of India (SIDBI) a…
SIDBI expert panel sanctions Rs 1,112 cr to funds for start-ups
An expert committee set up by SIDBI has sanctioned Rs 300 crore to fund managers who would invest in startups, taking the total sanctions so far this fiscal to over Rs 1,100 crore, the government said today. During fiscal year 2014-15 and 2015-16 sanctions were made to 11 funds (Rs 314 crores) an…
Only Rs 5.66 cr invested in Start-up India out of the promised Rs 10k cr so far
The Centre’s ambitious Startup India initiative has managed to disburse only Rs 5.66 crore of the promised Rs 10,000 crore a year after its launch. On February 8, in its response to the newspaper’s RTI queries, the Small Industrial Development Bank of India said it had created a corpus of only Rs…
Govt makes no allocation for Start-Up Fund for next fiscal
The government has made no provision for its ambitious India Aspiration Fund, part of StartUp India initiative, for the next financial year and has reduced the allocation to Rs 100 crore from Rs 600 crore made earlier for the current fiscal. In order to provide support to startups through Fund of…
SIDBI और MCCIA ने MSMEs को लोन प्रदान करने के लिए किया समझौता
एमएसएमई वित्तपोषण में गहरी पैठ बनाने के उद्देश्य से स्मॅाल इंडस्ट्री डेवलपमेंट बैंक ऑफ़ इंड़िया (SIDBI) ने एमएसएमई सदस्यों के लिए 50 लाख तक कर्ज आसानी से मुहैया कराने को लेकर महाराष्ट्र चेंबर आफ कॅामर्स, इंडस्ट्री एण्ड़ एग्रीकल्चर (MCCIA) के साथ एक मेमोरेंड़म साइन किया है। एमओयू को पुणे क्षेत्र की…
SIDBI & MCCIA sign MoU to facilitate loans upto Rs 50 lakh to MSMEs
Pune: To make deeper inroads into MSME financing, the Small Industries and Development Bank of India (SIDBI) signed a memorandum of understanding (MoU) with the Mahratta Chambers of Commerce, Industries and Agriculture (MCCIA) to facilitate loans of up to Rs 50 lakh to member MSMEs on a preferent…
Startup India’s flaws are beginning to tell
Around this time last year, the Narendra Modi government launched the Startup India, Stand Up India campaign. It announced a slew of measures—simplifying regulations, offering some handholding, a few tax breaks, and a fund-of-funds—to rev up the start-up engine and enable entrepreneurship, techno…