National development bank Sidbi has launched a growth accelerator programme for small non-banking financial companies (NBFCs) to help them qualify for bank funding. The initiative, in partnership with the Finance Industry Development Council and the global alliance for mass entrepreneurship, has selected 18 small NBFCs as the first cohort of the programme.
Sidbi announces growth programme for small NBFCs to help secure funding business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Further, he said in the past three years, Sidbi s lending to MSMEs doubled to cross the INR 50,000 crore-mark, while the system wide MSME loan book is INR 25 lakh crore, which is slated to double over the next three years. Of the present MSME book, only 28% are met by NBFCs.