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Small Industries Development Bank of India (SIDBI) today announced it has tied up with the Franchising Association of India to work together for entrepreneurship growth and development of Micro, Small and Medium Enterprises (MSME).
SIDBI, the financial institution for promotion, financing and development of MSME sector, would provide financial assistance under its Direct Credit Schemes, after initial screening to the Franchising Association of India, an industry association representing franchisees, franchisors and service providers to the sector, SIDBI said in a statement.
A proper mechanism would be put in place to ensure that the right kind of proposals from its members is referred to SIDBI based on the product features, the statement said.
The services sector contributes more than 60 per cent to the national GDP and all eligible proposals would be covered under Credit Guarantee Fund Trust for Micro and Small Enterprises Scheme, said S. Muhnot, Chairman and Managing Director, SIDBI.
Recently, SIDBI had launched a Web site ‘smallB.in’ to encourage individuals to look at the enterprise-based business opportunities and simplify the process of starting a business in India.
beena.parmar@thehindu.co.in
SIDBI, the financial institution for promotion, financing and development of MSME sector, would provide financial assistance under its Direct Credit Schemes, after initial screening to the Franchising Association of India, an industry association representing franchisees, franchisors and service providers to the sector, SIDBI said in a statement.
A proper mechanism would be put in place to ensure that the right kind of proposals from its members is referred to SIDBI based on the product features, the statement said.
The services sector contributes more than 60 per cent to the national GDP and all eligible proposals would be covered under Credit Guarantee Fund Trust for Micro and Small Enterprises Scheme, said S. Muhnot, Chairman and Managing Director, SIDBI.
Recently, SIDBI had launched a Web site ‘smallB.in’ to encourage individuals to look at the enterprise-based business opportunities and simplify the process of starting a business in India.
beena.parmar@thehindu.co.in
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