by Rajen KumarMiddlemen Rule PSU Banks
The Union Finance Ministrys recent advisory to the public sector banks to take a tough stand while sanctioning loans to the corporate houses is, to say the least, amusing. The advisory,...
Special ReportsOct 2013
Association of Healthcare Providers India AHPI represents the vast majority of healthcare providers in India to work as not for profit organization for advocacy with...
SIDBI has procured a loan of $400 million from the World Band
The government's efforts to bring down lending rates to be affordable for the SME sector have failed till now. A recent survey of 300 units having turnover between Rs 1 crore and Rs 40,000 crore had revealed that besides the SME sector, even bigger industries were facing problems securing easy loans.
The fact-finding report, prepared by Ficci, had disclosed that credit was available at 12% and above despite the government having urged commercial banks to lend at affordable rates.
Besides financing SMEs, the World Bank loan will be used to fund development projects that are being assisted by SIDBI. The loan is being taken by SIDBI directly from the World Bank with a guarantee from the government.
SIDBI had earlier requested for an additional IBRD financing of $200 million, which was forwarded by the finance ministry in August 2008 to the multilateral agency. The request was later enhanced to $400 million owing to the enhanced credit requirements of SMEs.
The objectives of the additional loan include improved access of SMEs to confessional finance and providing business development services, thereby fostering growth competitiveness and employment creation of SMEs, said a release from the finance ministry.
The loan component includes credit facility, risk sharing facility and technical assistance.
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
Of the 80 odd seasons that he has been through, he savoured less springs and suffered more rains, proverbially. Not that time took a toll on his age, it was his own siblings who dumped, nay disowned,...
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