(MENAFN - KNN India)
SIDBI reports 9 per cent net growth to Rs 630 cr in Q3 FY21 New Delhi, Feb 16 (KNN) Small Industries Development Bank of India (SIDBI) - the principal financial institution focusing on Micro, Small, and Medium Enterprises (MSMEs) in the country has reported a 9 per cent net profit growth to Rs 630 crore in Q3 FY21 from Rs 578 crore in Q3 FY20.
According to SIDBI, the non-interest income for the bank was up 16.7 per cent to Rs 154 crore in Q3 FY21 vis-à-vis Rs 132 crore in the year-ago period. The net interest income grew 3 per cent to Rs 840 crore in Q3 FY21 from Rs 816 crore in Q3 FY20.
Read more about SIDBI Q3FY21 net up 9% to Rs 630 cr on better income, strong credit growth on Business Standard. Asset quality profile improves as bad loans dip; provision coverage ratio rises to 96 per cent
Read more about Consumer, personal loans bolstered fintech lending in FY 2021: Report on Business Standard. SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of NBFC fintech segment
Mumbai (Maharashtra) [India], February 15 (ANI/PRNewswire): SIDBI and Equifax launched the second edition of Fintech Pulse , a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment. Fintech Pulse aims to provide insights on trends in the Indian Fintech industry - from disbursements to delinquencies to top growing states and top loan categories.
Key highlights: Consumer and Personal Loans continue to be strong for NBFC-Fintechs with 87 per cent share in active loans There is a 38 per cent increase in outstanding portfolios value year on year, with personal loans growing while business loans showing a decline in value
SIDBI, COWE launch 20 webinar series
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Small Industries Development Bank of India (SIDBI), with the Confederation of Women Entrepreneurs of India (COWE), has launched the ‘Swavalamban Sashakt – Mega Campaign’, which is a 20 webinar series to give a fillip to ‘Stand Up India’ scheme.
Under the scheme, the bank advances loan between ₹10 lakh and ₹1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or the trading sector, a release quoted V. Satya Venkata Rao, Deputy Managing Director of SIDBI, as saying.