SIDBI’s MSME credit increases to 53,785 cr in FY 12
Hotline: 1800 102 2007
X
Search Business Opportunities
2012-06-29

SIDBI’s MSME credit increases to 53,785 cr in FY 12

In its 14th Annual General Meeting held today, at Lucknow Small Industries Development Bank of India (SIDBI), Chairman and Managing Director, Sushil Muhnot, mentioned that during FY 2011-12, SIDBI’s outstanding credit to the MSME sector increased to 53,78

In its 14th Annual General Meeting held today, at Lucknow Small Industries Development Bank of India (SIDBI), Chairman and Managing Director, Sushil Muhnot, mentioned that during FY 2011-12, SIDBI’s outstanding credit to the MSME sector increased to 53,785 crore crossing the 50,000 crore mark.

The cumulative disbursement of SIDBI stood at 2.45 lakh crore, benefiting more than 325 lakh people. The net profit after tax increased to 567 crore as compared to 514 crore for the previous year. The Networth of the Bank increased to 6,399 crore and the Earnings Per Share (EPS) improved to 12.60 from 11.42 in FY 2011. The Board of Directors during the AGM approved the payment of dividend of 25% for FY 2011-12. 

Muhnot informed that SIDBI is now reorienting its business strategy to address the gaps in the MSME eco-system, both in the financial and development services. SIDBI would now lay greater thrust on risk / venture capital apart from loans for energy efficient equipments, service sector, factoring, receivable financing, etc., to fill the financial gaps. Further, SIDBI would provide refinancing support to Commercial Banks and select Regional Rural Banks, Non-Banking Financial Companies, etc., besides their capacity building.

Financial support by way of equity and other forms of risk capital to MSMEs would be through the 5,000 crore India Opportunity Venture Fund, which was announced in the Union Budget, 2012-13. Muhnot also said that the availability of tax free bonds of 5,000 crore with SIDBI announced in the budget would help SIDBI to reach out to more MSMEs.

Similarly, to address the development services gaps, SIDBI would enable credit facilitation through Credit Facilitation Centres in association with Industry Associations, initially in 100 MSME clusters.

Related opportunities
  • About Us: Established in 2012, Hot Fut Sports, a venture of..
    Locations looking for expansion Maharashtra
    Establishment year 1950
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 6000 - 50000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • About Us: “99 Pancakes” is first and India’s fastest growing business..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Ice creams & Yogurt Parlors
    About : Ice Cream factory is an innovative live ice cream..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 225
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Juices / Smoothies / Dairy parlors
    About: We are a new-age startup with a vision to make..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
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