"Punjab National Bank, Oriental Bank of Commerce and Small Industries Development Bank of India will set up a rating agency for SMEs," OBC chairman B D Narang said on the sidelines of a bankers-borrowers meet at PHDCCI.
Small Industries Development Bank of India (Sidbi) has submitted a proposal to Finance Minster P Chidambaram for taking a strategic stake in a bank in order to provide comprehensive range of services to the small- and medium-sized enterprises (SME
India and the World Bank have signed a loan agreement on small- and medium-sized enterprises (SMEs) financing and development project.
The Government of India is likely to increase credit flow to the small- and medium-sized enterprises (SMEs).
Exports made under deferred payment or suppliers' line of credit contract are now entitled to benefits under the advance licence scheme (ALS).
State Bank of India (SBI) has disbursed loans worth Rs 20,537 crore during the period April-December 2004 to small- and medium-sized enterprises (SMEs), registering a growth of 8.63 per cent over the corresponding period in the previous year.
Canbank Factors registered a 50 per cent growth during the third quarter of the fiscal year ended 31 December 2004 with profit after tax up by 5.423 per cent at Rs 7.96 crore.
The World Bank extended US$120 million in assistance to India to help boost credit to small companies on Friday.
Finance minister P Chidambaram today launched BSE IndoNext, a joint project promoted by the Bombay Stock Exchange and the Federation of Indian Stock Exchanges to create a national trading platform for small- and medium-sized enterprises (SMEs).
The Indian government has said it is in the process of developing a review mechanism to find out the number of loan applications received and processed by the banks concerned to facilitate easy financing to small and medium enterprises.
