For the full year, its profit after tax jumped 36.5 per cent to Rs 1,952.21 crore from Rs 1,429.21 crore in FY18 due to increased portfolio and reducing cost to income ratio.
Under fund of funds operations, SIDBI handles various schemes, namely India Aspiration Fund (corpus of Rs 2,000 crore, ASPIRE Fund (Rs 60 crore) and Fund of Funds for Startups (FFS) (Rs 10,000 crore).
Speaking to CNBC-TV18 Anshula Kant, Deputy MD & CFO of SBI said that deposit growth has been strong for the bank. Sudhin Choksey, MD of Gruh Finance, said that demand side incentives are a significant relief to families in the segment. Jairam Sridharan, CFO, Axis Bank said the government schemes are good.
The company raised fund from HDFC Ergo General Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, RBL Bank, Shriram Life Insurance, Small Industries Development Bank of India (SIDBI) and private equity funds such as Arpwood Investments and Faering Capital, a release said.
"Yes Bank has executed a share subscription and shareholders' agreement agreeing to subscribe for 20,00,000 equity shares of RXIL," Yes Bank said in a BSE filing.
In November last year, the RBI had given in-principle approval to three entities to set up TReDs. The other two entities are -- Mynd Solutions (Gurgaon) and NSE Strategic Investment Corporation and Small Industries Development Bank of India (Mumbai).
The bank is very active in supporting and promoting the entire startup ecosystem for making it more healthy, robust and strong, which is very crucial in fuelling India's economic growth trajectory, Sidbi Chairman and Managing Director Kshatrapati Shivaji told PTI
While the Rs 3,000 crore MUDRA Credit Guarantee Fund (CGF) will act as hedge against default of Rs 50,000 to Rs 10 lakh loan extended to small entrepreneurs, the Rs 5,000 crore Stand Up India CGF will stand guarantee for Rs 10 lakh to Rs 1 crore loans to be provided to least 2.5 lakh SC/ST and women.
The funds are Rs 2,000-crore India Aspiration Fund (IAF) and SIDBI Make In India Loan For Enterprises (SMILE) scheme with an investment size of Rs 10,000 crore.
These branches will be operational from August 23 the same day the bank commences its nationwide operations. Bandhan Bank is all set to start with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMS across India.
The Project will support MSMEs through direct financing by the Small Industries Development Bank of India (SIDBI) and Participating Financial Institutions (PFIs) across three components.
Medium enterprises can now receive priority sector lending, but will it actually translate into a healthier cash flow for them?
SIDBI's push to make small businesses 'ratings ready' is riddled with challenges and offers nothing new
Small Industries Development Bank of India (SIDBI) said that it expected a 10 percent growth in loan disbursements in FY14 at Rs 44,000 crore.
The ministry of finance, on Wednesday appointed Tilak Raj Bajalia as deputy managing director of Small Industries Development Bank of India (SIDBI).
To encourage entrepreneurship among young educated people, the finance ministry has initially identified four small size banks including Dena Bank, Oriental Bank of Commerce (OBC), Corporation Bank and Indian Bank to kick start a special campaign in extending credit to MSME sector in association with SIDBI. It eyes 110 such branches.
Bangalore-based micro lender Ujjivan is set to receive Rs 1.01 billion (USD 21 million) in loans from the Small Industries Development Bank of India (SIDBI) and other state-run and private sector banks, it said in a statement Tuesday.
Small Industries Development Bank of India (SIDBI) plans to disburse around Rs 1,000 crore in credit to microfinance institutions (MFIs) during 2011-12, which is 19% more than the loaned amount last fiscal.
The Small Industries Development Bank of India has signed an agreement with the Bureau for Energy Efficiency to create energy efficient technologies for the MSME sector.
The Small Industries Development Bank of India (SIDBI) today said that it now offers general investors and bulk depositors an annualised yield of 9.84% on its fixed deposit scheme with a duration of 12-13 months.