The Small Industries Development Bank of India (Sidbi) is set to review ten proposals from alternative investment funds seeking a commitment of Rs 675 crore from the Fund of Funds for Startups (FFS) announced by PM Modi in the Startup India Action Plan. Sidbi’s Venture Capital Investment Co…
Tag: SIDBI
SIDBI disburses Rs 3,337 crore in 2015-16
State-owned SIDBI has disbursed Rs 3,337.20 crore out of Rs 3,783.20 crore sanctioned during 2015-16 through its wholly-owned subsidiary MUDRA to fund the small and self owned enterprises. MUDRA (Micro Units Development and Refinancing Agency) encourages development of micro units. In order to fu…
PHDCCI Innovation Summit brings together innovative minds for enhancing MSMEs
MSMEs are the growth engine of Indian economy. Innovation in the sector is both an opportunity and a challenge. To make innovation an integral part of the business plan at SME firms, PHD Chamber of Commerce and Industry, in collaboration with Paytm, Hero Mindmine, Ajeevi and SMEpost.com, organise…
KVIC to come up with Innovation & Incubation Centres through suitable appropriation of underutilized assets | CEO, KVIC, Arun Kumar Jha
Khadi & Village Industries Commission (KVIC) is gearing up to channelize all its energies for suitable appropriation of all its utterly underutilized assets, spread across the country with an estimated amount of Rs.50,000 crores for setting up of innovation and incubation centre for start ups…
Cost of Microcredit will decline soon | PSN Murthy, AGM, MUDRA
Mumbai, May 9: “The Past models of microfinance companies were all brick and mortar based on branches and self-help groups. The future could be disruptive with past success being no guarantee of future survival. Interest rate (for microcredit) is expected to fall to 15% in the next five years fro…
MUDRA Yojna sluggish, bigger role for MFIs needed: Parliamentary panel
Concerned over sluggish refinancing under the MUDRA Yojna for tiny enterprises, a parliamentary panel has suggested a bigger role for micro-finance institutions (MFIs) while capping their interest rates at “reasonable rates”. As per the report by the Parliamentary Standing Committee p…
India Aspiration Fund needs to be at par with NIIF
The India Aspiration Fund (IAF), set up to boost the startup ecosystem in the country should be moderated on the lines of NIIF, which funds up to 49 per cent of the capital requirement, head of Bank of Maharashtra said today. “The MSMEs have the equity problem. But a solution has been broug…
NABARD provides Rs 11,785 Cr financial support to UP in 2015-16
The annual business operations of the National Bank For Rural Development (NABARD) in Uttar Pradesh during 2015-16 has crossed a landmark milestone of Rs 11,785 crore. The financial support by NABARD during 2015-16 in UP included Rs 6050 crore released to Regional Rural Banks and Cooperative Bank…
MSME bank SIDBI, LIC join to fund the funders
Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC), in the presence of Jayant Sinha, MoS for Finance, for supplementing Government’s efforts under ‘Fund-of-Fund’ operation for the Venture Fund industry. The …
RBI taking steps to improve credit to MSMEs | Dy. Governor Mundra
The Reserve Bank of India is taking a number of steps to ensure timely credit availability as also improving cash flow to the Micro, Small and Medium Enterprises (MSMEs), which stand as the beacon of hope in an otherwise difficult economic environment. Addressing the Bankers’- Borrowers int…