The Small Industries Development Bank of India (SIDBI) has adopted new instruments and avenues for deploying credit to the small- and medium-sized enterprise (SME) sector in the State on a war-footing, according to Mr R. Madhavan Nair, deputy general manager, SIDBI.
This includes investment products such as debentures, zero coupon bonds, suppliers and bill discounting, he said while speaking at a seminar on 'Alternate Avenues for Financing of SMEs' organised by the CII-Kerala. The SIDBI has entered into memoranda of understanding (MoUs) with select banks to further the cause of SMEs, he added.
Mr Nair pointed out that the cumulative sanctions in Kerala for SMEs has been Rs4,857 crore and disbursements stood at Rs3,296 crore in 2003-04. An SME fund totalling Rs10,000 crore has been in operation from 1 April.
