HDFC Bank has decided to slash interest rates on personal and commercial loans up to 150 basis points, from Jan 19, 2009. In addition, the bank will also cut interest rates on corporate loans and wholesale credit, a positive step for small and medium businesses. The move is a pre-emptive measure to cushion slackening auto, manufacturing and small business sales in ...

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The Small Industries Development Bank of India (SIDBI) has floated the India SME Asset Reconstruction Co Ltd as an asset reconstruction firm in association with state-run banks and the Life Insurance Corporation of India.  The company will purchase bad loans extended to small businesses and will try to resolve them. Though mainly for small business loans, the company will also buy ...

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Standard Chartered Bank, India's largest foreign bank, has announced that is it withdrawing from the market the wholly owned NBFC, the Standard Chartered Investments & Loans India Ltd (SCILL). The consumer finance division that provided unsecured personal loans to small businesses was known as ‘Prime Credit.’ Default within this segment reached double digits for banks and non-banking finance companies and ...

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Andhra Bank has reduced interest rates to micro businesses by 100 basis points and for small businesses by 50 basis points. The policy change will immediately apply to both existing and new loans. The bank has also announced that they will grant need-based ad hoc working capital demand loans up to 20 percent of the existing fund-based limits for units with ...

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A large number of private equity and venture capital firms along with some formal angel investor networks have focused on the Indian technology sector. Around 275 VCs, over 350 PE funds and an estimated 225 angel funds operate in India. Though angel investing in India is still developing, VC firms are increasingly willingly to fund first time entrepreneurs. ...

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