Govt picks 4 banks to extend MSME credit
Hotline: 1800 102 2007
X
Search Business Opportunities
2012-09-12

Govt picks 4 banks to extend MSME credit

The government has identified four banks namely, Dena Banks, Oriental Bank of Commerce, Corporation Bank an Indian Bank for a special campaign to extend credit to MSMEs. The finance ministry has associated with SIDBI for this campaign to promote entrepren

The government has identified four banks namely, Dena Banks, Oriental Bank of Commerce, Corporation Bank an Indian Bank for a special campaign to extend credit to MSMEs. The finance ministry has associated with SIDBI for this campaign to promote entrepreneurship.

"This is just a starting point. There should be 110 specialized branches across the country," said Sunil Soni, additional secretary, the department of financial services, the government of India, told reporters in Mumbai.  He was inaugurating a portal called smallB.in, by SIDBI to promote youth enterprises.

"We are going to start this on an experimental basis. Going forward every bank will follow it. However, we have not set any target for individual banks. We are now making financing available for MSMEs. We have already created the enabling environment. If we can create 10,000 such entrepreneurs every year, it will be a huge achievement for the country," he added.

The identified banks will provide MSME loans faster to let young businesses grow faster.

Related opportunities
  • Juices / Smoothies / Dairy parlors
    About : Albano is a traveler, who enjoys experiencing different cultures..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Denim - Garments, Fabrics, Bags
    About Us: Start your Own Business with LeeRooy Our Product:- Bags/Backpacks/Laptop Bags/Wallet/Bel..
    Locations looking for expansion Rajasthan
    Establishment year 2001
    Franchising Launch Date 2015
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Guest House / Service Apartments
    About Us: A neoteric conception, U HOSTELS offer a plush accommodation..
    Locations looking for expansion New Delhi
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Beauty Salons
    About: Waves is a well-established and renowned chain of salons &..
    Locations looking for expansion Delhi
    Establishment year 2013
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts