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NBFC-MFI to grow at 28% yoy in FY24: CareEdge Ratings The NBFC-MFI industry experienced a slowdown in growth in FY21 due to the Covid-19 pandemic. However, growth rebounded in FY23, with the industry reporting a strong growth at 37% Y-o-Y, supported by improved disbursements. This growth momentum is expected to continue, with Care Ratings projecting a healthy loan growth of around 28% yoy for FY24.   Says Manoj Kumar Nambiar, Managing Director and Board Member, Arohan Financial Services Limited, “The revised RBI regulations will...
NBFC-MFI to grow at 28% yoy in FY24: CareEdge Ratings
NBFC-MFI to grow at 28% yoy in FY24: CareEdge Ratings
Source: PR Agency
11/08/2023 5:00:32 PM
SIDBI anchors INR 700 cr `Promising Lenders Fund` in partnership with Vivriti Asset Management Towards building an ecosystem to support Micro, Small and Medium Enterprises (MSMEs), SIDBI has participated as an anchor investor in Promising Lenders Fund (PLF) managed by Vivriti Asset Management (VAM), with an aggregate target corpus of INR 700 crores in two phases. The Fund was co-conceptualised by SIDBI and Vivriti with dual objectives of providing necessary debt capital to microenterprises and building...
SIDBI anchors INR 700 cr `Promising Lenders Fund` in partnership with Vivriti Asset Management
SIDBI anchors INR 700 cr `Promising Lenders Fund` in partnership with Vivriti Asset Management
Source: PR Agency
26/07/2023 5:21:28 PM
Meat delivery partner ZappFresh acquires Dr Meat to expand reach to Bengaluru market Online meat delivery partner ZappFresh on Thursday announced the acquisition of Dr Meat, a renowned brand operated by Sukos Foods to expand its reach in the south market. After achieving steady growth and profitability in the Delhi-NCR region, ZappFresh aims to enter new markets in the upcoming year, with Bengaluru being the first target.  "We have actively sought opportunities for strategic partnerships and acquisitions in recent years. However, Dr Meat stood out among other ...
Meat delivery partner ZappFresh acquires Dr Meat to expand reach to Bengaluru market
Meat delivery partner ZappFresh acquires Dr Meat to expand reach to Bengaluru market
Source: IANS
13/07/2023 4:23:32 PM
SIDBI achieves another milestone- Asset Base crosses ?4 trillion mark The Small Industries Development Bank of India (SIDBI) held its 25th Annual General Meeting on June 26, 2023, at its Head Office in Lucknow. The audited financial results of SIDBI for the year ended March 31, 2023 were approved at the Annual General Meeting. Shri Sivasubramanian Ramann, IA&AS, Chairman and Managing Director of SIDBI, addressed the members and outlined SIDBI’s financial and operational performance for FY 2022–2023. SIDBI achieved the highest-ever o...
SIDBI achieves another milestone- Asset Base crosses ?4 trillion mark
SIDBI achieves another milestone- Asset Base crosses ?4 trillion mark
Source: PR Agency
28/06/2023 2:59:56 PM
HDFC Bank inches up on signing MoU with SIDBI HDFC Bank is currently trading at Rs. 1601.00, up by 0.70 points or 0.04% from its previous closing of Rs. 1600.30 on the BSE. The scrip opened at Rs. 1601.30 and has touched a high and low of Rs. 1606.55 and Rs. 1599.50 respectively. So far 64863 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood a...
HDFC Bank inches up on signing MoU with SIDBI
HDFC Bank inches up on signing MoU with SIDBI
Source: Accord Fintech
7/06/2023 11:13:18 AM
Uber steps up EV push in India with Uber Green Ride-hailing platform Uber Technologies is stepping up its efforts to go green in India by introducing more electric vehicles, partnering with more EV fleet operators, boosting financing options and giving its users the option to hire electric vehicles while booking their ride. As part of the launch of "Uber Green" in June, it will join hands with Zypp Electric to roll out 10,000 electric two-wheelers in Delhi by 2024, partner with SIDBI to provide 10 billion rupees ($122.3 milli...
Uber steps up EV push in India with Uber Green
Uber steps up EV push in India with Uber Green
Source: Reuters
24/05/2023 3:30:39 PM
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups Z3Partners, a leader in tech and digital investment in India, on Tuesday said it has closed its latest fund at Rs 550 crore that will primarily invest in 8-10 early-growth, digital and tech startups, with a ticket size of Rs 50-80 crore. Leading global and domestic institutions and family offices, including HDFC Life and SIDBI, participated in the fund. Z3Partners said it has already made five investments in cybersecurity startup Cyfirma, social e-commerce firm DealShare, agri-tech plat...
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups
Source: IANS
17/01/2023 11:11:14 AM
58% of government-recognised start-ups in 5 states; Maha tops list Nearly 58 per cent of the government-recognised start-ups are confined to just five states in the country. A total of 84,012 start-ups have been recognised by the government (as on November 30, 2022). However, the latest government data showed that nearly 60% of the total government recognized start-ups are from the states including Maharashtra, Karnataka, Delhi, Gujarat and Uttar Pradesh. While Maharashtra tops with 15,571 government recognised start-ups, states like Karnataka, Delhi, ...
58% of government-recognised start-ups in 5 states; Maha tops list
58% of government-recognised start-ups in 5 states; Maha tops list
Source: IANS
18/12/2022 9:43:35 AM
A ration shop for raw materials: MSME Association budget wish A ration or fair price shop for raw materials; bringing Small Industries Development Bank of India (SIDBI) under the Ministry of Micro, Small and Medium Enterprises (MSME); abolition of capital gains tax on properties sold by micro entrepreneurs; are some of the Union Budget 2023-24 wish list of the Association of Indian Entrepreneurs (AIE). The AIE also wants payment of salaries to the interns by the central government for 180 days. According to a memorandum submitted by the AIE, the b...
A ration shop for raw materials: MSME Association budget wish
A ration shop for raw materials: MSME Association budget wish
Source: IANS
28/11/2022 11:38:37 AM
HFCL rises on getting approval under PLI Scheme HFCL is currently trading at Rs. 83.65, up by 0.60 points or 0.72% from its previous closing of Rs. 83.05 on the BSE. The scrip opened at Rs. 83.15 and has touched a high and low of Rs. 84.85 and Rs. 82.60 respectively. So far 494483 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 101.35 on 17-Jan-2022 and a 52 week low of Rs. 51.55 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 85.15 and R...
HFCL rises on getting approval under PLI Scheme
HFCL rises on getting approval under PLI Scheme
Source: Accord Fintech
2/11/2022 11:42:09 AM
India's government, corporate bond yield spread to widen on rising supply The spread between Indian government bond yields and their corporate counterparts is expected to widen in the second half of this year, as tight liquidity and increased borrowings will push investors to demand higher returns, analysts said. "Many corporates and state-run companies that delayed borrowing will have to tap the market to fulfil their target, and with tightening liquidity conditions, yields on corporate papers are expected to see higher impact as compared to government deb...
India's government, corporate bond yield spread to widen on rising supply
India's government, corporate bond yield spread to widen on rising supply
Source: Reuters
25/10/2022 2:15:11 PM
SBI rises on inking pact with SIDBI, Union Bank of India, Bank of Maharashtra State Bank of India is currently trading at Rs. 568.85, up by 7.25 points or 1.29% from its previous closing of Rs. 561.60 on the BSE. The scrip opened at Rs. 561.00 and has touched a high and low of Rs. 569.90 and Rs. 559.40 respectively. So far 1689026 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 578.65 on 15-Sep-2022 and a 52 week low of Rs. 425.00 on 08-Mar-2022. Last one week high and low of the scrip st...
SBI rises on inking pact with SIDBI, Union Bank of India, Bank of Maharashtra
SBI rises on inking pact with SIDBI, Union Bank of India, Bank of Maharashtra
Source: Accord Fintech
19/09/2022 11:15:55 AM
Commercial papers issuance rises around 60% on-month to Rs 1.51 lakh cr in August Fund raised through commercial papers rose sharply around 60 per cent month-on-month to Rs 1.51 lakh crore in August due to large issuances by some companies. This was even after the rates on these instruments have risen more than 25 basis points throughout the month. According to the Prime database, companies raised Rs 1.51 lakh crore in August, as compared to Rs 94,599 crore in July. With this, fundraising in August is highest in the current financial year. There are some regular is...
Commercial papers issuance rises around 60% on-month to Rs 1.51 lakh cr in August
Commercial papers issuance rises around 60% on-month to Rs 1.51 lakh cr in August
Source: IANS
15/09/2022 3:06:30 PM
SIDBI Regional Office, Lucknow Celebrating AKAM, UdyamSangyan Small Industries Development Bank of India (SIDBI), Regional Office, Lucknow in co-ordination with Dalit Indian Chamber of Commerce & Industry (DICCI) organised a One day Exposure Visit of Micro and Small Enterprises (MSEs) to TATA Motors Ltd, Lucknow as part of "Celebrating AKAM @ Udyam Sangyan". A total of 30 entrepreneurs representing MSEs participated in the visit. The objective of the exposure visit was to create an awareness regarding best practices, corporate governance, ...
SIDBI Regional Office, Lucknow Celebrating AKAM, UdyamSangyan
SIDBI Regional Office, Lucknow Celebrating AKAM, UdyamSangyan
Source: PR Agency
19/08/2022 11:04:35 AM
SIDBI launches 5th phase of setting up 300 Swavalamban Silai Schools to promote Women Entrepreneurship in villages Gives 10X power to entrepreneurial pursuit on the occasion of76thIndependence Day~ Small Industries Development Bank of India (SIDBI), the Principal Financial Institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs)  under its flagship initiative Mission Swavalamban, AtmaNirbhar Bharat and Azadi Ka Amrit Mahotsav in partnership with Usha International Limited (UIL) has launched, on independence day,  the fifth phase of setting...
SIDBI launches 5th phase of setting up 300 Swavalamban Silai Schools to promote Women Entrepreneurship in villages
SIDBI launches 5th phase of setting up 300 Swavalamban Silai Schools to promote Women Entrepreneurship in villages
Source: PR Agency
17/08/2022 9:00:24 AM
Corporate bond issuances rise over 16% on-month in July Issuances of corporate bonds rose more than 16 per cent month-on-month in July to Rs 58,452 crore due to softening of yields on these instruments. According to the data from Prime database showed, banks and companies raised Rs 58,452 crore in July, as against Rs 50,099 crore in June. Since the beginning of this calendar year, issuances remained highest in month of March, with companies raising Rs 81,580 crore. Of the total amount raise in July, Housing Development Finance Corp (HDFC) ra...
Corporate bond issuances rise over 16% on-month in July
Corporate bond issuances rise over 16% on-month in July
Source: IANS
10/08/2022 3:58:16 PM
India's SIDBI to issue 7-month CP - traders Small Industries Development Bank of India, or SIDBI, plans to raise funds selling commercial paper maturing in seven months, three merchant bankers said on Wednesday. The state-run financial institution will offer a yield of 6.20% on this issue, and has received commitments worth around 12 billion rupees ($151.94 million), the bankers said. The notes rated A1+ by CARE Ratings and India Ratings and the issue will mature on Mar. 10. ($1 = 78.9800 Indian rupees)
India's SIDBI to issue 7-month CP - traders
India's SIDBI to issue 7-month CP - traders
Source: Reuters
3/08/2022 3:41:31 PM
National Level Learn-shop on development of the MSME ecosystem organised by SIDBI & Grant Thornton Bharat Aligned to AKAM celebrations, SIDBI along with its Project Management agency Grant Thornton (GT), organized on 30th June 2022, a National Level “Learn-shop” (Virtual programme) on development of the MSME ecosystem. The objective was to learn and share good practices aligned to cluster centric development thus maximizing adoption and adaptation. The keynote was delivered by Shri S. Ramann CMD, SIDBI, who said that there is need to keep vibrancy in enterprise development models. ...
National Level Learn-shop on development of the MSME ecosystem organised by SIDBI & Grant Thornton Bharat
National Level Learn-shop on development of the MSME ecosystem organised by SIDBI & Grant Thornton Bharat
Source: PR Agency
1/07/2022 11:41:19 AM
Google, SIDBI launch $15 mn financial assistance programme Google on Thursday joined hands with the Small Industries Development Bank of India (SIDBI) to launch a $15 million (about Rs 110 crore) financial assistance programme, enabling micro-enterprises avail loans of Rs 25 lakh to Rs 1 crore at competitive interest rates. The programme aims to fulfill the credit needs of Indian micro-enterprises, helping them make investments in their business operations, such as purchasing new machinery and equipment, production infrastructure, and working capi...
Google, SIDBI launch $15 mn financial assistance programme
Google, SIDBI launch $15 mn financial assistance programme
Source: IANS
18/11/2021 6:26:10 PM
SIDBI ties up with GAME to help MSMEs revive The Small Industries Development Bank of India (SIDBI) and the Global Alliance for Mass Entrepreneurship (GAME) have entered into an MoU to help the MSMEs address their challenges that were accentuated during the pandemic, along with the longstanding capacity gaps in the sector. The broad themes covered under the MoU include expanding credit access, increasing formalisation, building competitive clusters, and improving the legal framework for ease of doing business. The two organisation...
SIDBI ties up with GAME to help MSMEs revive
SIDBI ties up with GAME to help MSMEs revive
Source: IANS
28/06/2021 9:11:39 AM
RBI announces Rs 16K cr spl liquidity for SIDBI In a move to support small and medium businesses in their credit requirements, the Reserve Bank of India (RBI) has announced a special liquidity facility of Rs 16,000 crore for Small Industries Development Bank of India(SIDBI). This comes over and above the Rs 15,000 crore liquidity support announced in April. This facility is expected support the MSMEs amid the current Covid crisis and the lockdowns across states. "In order to meet MSMEs' short- and medium-term credit needs...
RBI announces Rs 16K cr spl liquidity for SIDBI
RBI announces Rs 16K cr spl liquidity for SIDBI
Source: IANS
4/06/2021 1:53:19 PM
RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI In a liquidity boost to all-India financial institutions such as NABARD and National Housing Bank (NHB), the Reserve Bank of India (RBI) has announced a liquidity support of Rs 50,000 crore to such institutions for fresh lending in the current financial year. "In consonance with the policy objective of nurturing the still nascent growth impulses, it has been decided to extend fresh support of Rs 50,000 crore to the AIFIs for new lending in 2021-22," said the RBI's statement o...
RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI
RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI
Source: IANS
7/04/2021 12:57:21 PM