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2012-12-21

SIDBI signs MoUs with banks to increase cash flow to MSMEs

Small Industries Development Bank of India (SIDBI) while extending the credit support to the MSME sector on Thursday signed memorandums of understanding (MoUs) with eight regional rural banks (RRBs) and urban co-operative banks (UCBs) in West Bengal, east

Small Industries Development Bank of India (SIDBI) while extending the credit support to the MSME sector on Thursday signed memorandums of understanding (MoUs) with eight regional rural banks (RRBs) and urban co-operative banks (UCBs) in West Bengal, eastern and north eastern India.

"These MoUs are for increasing credit flow to the 'missing middle' - micro, small and medium enterprises (MSMEs) in the region. SIDBI is also extending capacity building support for handling micro enterprise loans of MSMEs in West Bengal, Eastern and North Eastern India," a release said.

These MoUs will enhance the reach of micro enterprises to access credit from formal financial institutions.

The bank had last month signed MoUs with RRBs and UCBs for increasing credit flow to small enterprises in the state of Rajasthan.

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