Chairman and Managing Director of SIDBI, Mohammad Mustafa launched a series of initiatives from its bank headquarters in Lucknow.
While flagging off its ‘MSME contact programme’ Mustafa, in a statement, called upon bank officers to use the day-long stay at MSMEs to come closer in understanding their opportunities, challenges and the eco system to grasp as to what can be done to ease the way they do business.
In a statement he added that SIDBI had taken a series of steps both from direct lending (launch of growth support to MSME -SMILE loans around 8.12% and enhancing its footprint through string of Resident Representative Office ) as also policy advocacy ( launch of CRISIDEX, to gauge MSME aspirations, and MSME pulse, the health tracker for MSMEs).
Steps were also taken in commencing Bancassurance services for MSMEs. An MoU was signed with The New India Assurance and two MSMEs were issued insurance policies.
The revamped SIDBI which was also launched on the occasion will provide precise information about the various strategic interventions made by the bank and will will exhibit a great potential for the MSME aspirants through its other offerings in the form of a “Contactless Loan Platform” which will be introduced soon.