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Biz2Credit Advisor The Punjab & Sind Bank (P&S Bank) is seeking clearance from the government to buy a 30 percent stake in the Small Industries Development Board of India (SIDBI) in a private placement deal. The transaction would also require special clearance from the Reserve Bank of India, which allows companies to invest only 10 percent equity in banks. The bank expects to ...
The Confederation of Indian Industry (CII) recommended that the Reserve Bank of India (RBI) take additional measures to step up bank credit to help the MSME sector. The point was made on the basis that credit to MSMEs has been particularly weak, reducing the ability to handle issues like elongated payment cycles. The need was for RBI to step up ...
TAGS Tags: bank credit, Confederation of Indian Industry, credit to MSMEs, Reserve Bank of India
CATEGORIES Small Business Loans, Small Business News
Indian public sector banks will lend over Rs 13,000 in small business loans from January to March at rates under 10 percent. The government announced the new initiative as part of the country’s second ‘stimulus package.’ Additionally, the Reserve Bank of India will extend a Rs 7,000 crore line of credit to SIDBI (Small Industries Development Bank of India) before March ...
