Antariksh Venture Capital Fund to Fuel India’s Spacetech Startups from FY2027

India’s ₹1,005 crore Antariksh Venture Capital Fund, managed by SIDBI Venture Capital Limited, has completed its institutional setup and is expected to begin investing in spacetech startups from the first quarter of FY2027. The initiative aims to strengthen private sector participation and position India as a global space economy leader.

Union Minister Dr. Jitendra Singh said that India’s dedicated venture capital fund for the space sector is progressing steadily, with investment in selected startups expected to begin from the first quarter of FY2027.

Key Highlights of the Antariksh Venture Capital Fund

• Fund Corpus: ₹1,005 crore committed corpus.
• Manager: SIDBI Venture Capital Limited (SVCL).
• Regulatory Milestones: SEBI registration on October 31, 2025; Initial closing on November 10, 2025.
• Operational Setup: Appointment of custodian, registration with depositories, and constitution of Screening & Investment Committees completed.
• Startup Pipeline: Four spacetech proposals have advanced after Pre-Investment Committee approval.
• First Investments: Expected in early FY2027, following due diligence and documentation.

Strategic Objectives

• Boost Private Sector Participation: Encourage startups to contribute to India’s growing space ecosystem.
• Innovation Support: Provide structured guidance and “handholding” to help startups align with institutional investment processes.
• Global Competitiveness: Strengthen India’s position in the global space economy by fostering innovation and commercialization.

Why This Matters

India’s space sector has traditionally been dominated by ISRO, but recent reforms have opened the door for private players. The Antariksh Fund represents a systematic financial mechanism to nurture startups in areas such as:

• Satellite manufacturing and launch services
• Space-based communication and navigation systems
• Earth observation and data analytics
• Emerging technologies like reusable rockets and deep-space exploration

By FY2027, India could see its first wave of venture-backed spacetech startups, potentially creating new employment opportunities and attracting global partnerships.

Challenges Ahead

• Nascent Ecosystem: Many startups lack robust documentation and compliance readiness.
• Due Diligence Requirements: Institutional investors demand structured data and financial transparency.
• Global Competition: India must balance innovation with affordability to compete with established players in the US, Europe, and China.

Outlook

The Antariksh Venture Capital Fund is more than just a financing vehicle—it’s a policy-driven catalyst for India’s spacetech future. With investments slated to begin in FY2027, the fund could accelerate India’s transition from a government-led space program to a dynamic, private-sector-driven ecosystem, unlocking opportunities in both domestic and international markets.

IN-SPACe and SIDBI Launch ₹1,000 Cr VC Fund to Boost India’s Space Startup Ecosystem

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) and the Small Industries Development Bank of India Venture Capital Ltd (SVCL) today signed the Contribution Agreement to operationalise the ₹1,000 crore Venture Capital Fund for the Indian space sector. This signing marks the formal beginning of the Fund’s investment activities following its approval by the Securities and Exchange Board of India (SEBI) on 31 October 2025.

The agreement was signed today between Shri Lochan Sehra, IAS, Joint Secretary, IN-SPACe and Shri Arup Kumar, Managing Director and CEO, SIDBI Venture Capital Limited (SVCL, a 100% subsidiary of SIDBI). The signing was also attended by Shri Ratnesh Kumar, Deputy Director (F&A), IN-SPACe, and Shri Rajesh Kohli, Assistant Director (F&A), IN-SPACe, who represented the financial and operational leadership involved in structuring the Fund. Dr. Pawan Goenka, Chairman, IN-SPACe, addressed the ceremony virtually and conveyed his support for the activation of the Fund and its role in catalysing India’s private space ecosystem.

The Union Cabinet, chaired by Hon’ble Prime Minister Shri Narendra Modi, had approved the establishment of the ₹1,000 crore Venture Capital Fund for the Indian space sector in October 2024. In March 2025, SIDBI Venture Capital was appointed as the Fund Manager, drawing from its deep experience in nurturing early-stage and technology-led enterprises across India.

The Fund is designed to provide critical early-stage and growth capital to startups working across launch technologies, satellites, payload systems, in-space services, earth observation, communication platforms and downstream applications, enabling them to scale and contribute to national space capability.

Shri Lochan Sehra, IAS, Joint Secretary, IN-SPACe, said, “This Fund is a major enabler for India’s private space sector. It will support startups with the financial runway needed to test ideas, build indigenous technologies, and scale confidently. Today’s signing strengthens our commitment to building a vibrant ecosystem where innovation flourishes and Indian enterprises become global leaders in space technology. We look forward to working closely with SIDBI as we implement this important national initiative.”

Shri Arup Kumar, Managing Director and CEO, SVCL, “SIDBI is committed to empowering India’s deep-tech and frontier technology entrepreneurs, and the space sector represents one of the most promising frontiers of national growth. This dedicated Fund will give young companies the capital and confidence to innovate boldly, commercialise breakthroughs and contribute to India’s emergence as a major space power. We are honoured to partner with IN-SPACe and the Govt of India in advancing this mission.”

IN-SPACe continues to drive India’s vision of a self-reliant and globally competitive space sector by enabling private participation, supporting startups, and catalysing technological development. The operationalisation of this fund represents a significant step toward building a strong, innovation-driven, and future-ready space industry for India.

SIDBI Grants ₹ 12.45 Cr to ETO Motors to Deploy 300 Electric 3-Wheelers in Delhi, Hyderabad and Build EV Charging Infrastructure

Small Industries Development Bank of India (SIDBI) has granted INR 12.45CR to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad and also build an EV Charging Infrastructure to support the deployment

The Small Industries Development Bank of India (SIDBI) has granted INR 12.45 CR to ETO Motors to deploy 300 Electric 3-Wheelers (E3W) in Hyderabad and Delhi for first and last-mile passenger connectivity. ETO Motors, as part of the financial support, will also build an EV Charging Infrastructure to support the deployment of 300 E3Ws in Hyderabad and Delhi.

The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two, three and four-wheelers through direct and indirect lending. The objective of this scheme is to provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.

As part of the funding, ETO Motors will deploy three hundred Electric 3-Wheelers, in the cities of Delhi and Hyderabad, over the next 3 months. ETO Motors will also set up 180 Charging points, in the two cities, to support the E3W deployment.

ETO Motors is one of very few EV players that have received financial support from SIDBI under its Mission 50K-EV4ECO scheme. This is a testament to ETO Motors which is India’s largest Electric Mobility as a Service (EMaaS) company. Currently, ETO Motors partners with metro rails like Delhi Metro, Nagpur Metro, Hyderabad Metro, and Pune Metro for passenger first and last mile connectivity. ETO Motors manages over 1,500 E3Ws ( Passenger + Cargo) and has over 1,500+ drivers, including 200 women drivers.

 

Speaking at the occasion of SIDBI choosing ETO Motors under the mission 50K-EV4ECO scheme, Dr. Karthik S. Ponnapula, Director, ETO Motors said, “We are extremely thrilled to have been chosen by SIDBI under its 50K-EV4ECO scheme. This is a testament to our work in the EV/ E3W space as we move forward to help fulfil our country’s EV mission 2030. The financial support will synergize our capabilities in manufacturing state-of-art E3Ws and managing them as a fleet to optimize performance. It will also support our charging infrastructure initiative which is an essential requirement for the growth of EVs in the country.”

The E3Ws will be manufactured in ETO Motors’ state-of-art manufacturing capacity in Jadcherla, Telangana which also includes a modern research and development lab. The E3Ws are manufactured with a focus on safety (only e3W in India with a seatbelt) and technology, incorporating a fully integrated Vehicle Control Unit and IoT connected platform.

About ETO Motors

ETO Motors is India’s largest eMaaS (Electric Mobility as a Service) company with a fleet of over 1500 e3Ws (Electric Three Wheelers) under management.

It has, though its experience and expertise in managing electric fleets, collaborated with multiple ecommerce, grocery, B2B companies - Amazon, Flipkart, Big Basket, Ikea - for their first and last mile connectivity.

It is also driving growth in passenger market through tie-ups with ride aggregators (Uber), last mile delivery solution (Amazon, FlipKart, BigBasket, Gati, DHL, Blue Dart, Bisleri, ShadowFax, BlowHorn, Exide etc ) and with metro rails like Delhi Metro, Nagpur Metro, Hyderabad Metro, Pune Metro, Bengaluru Metro and Chennai Metro for passenger first and last and last mile https://www.facebook.com/photo.php?fbid=473526441463585&set=a.422887116527518&type=3&mibextid=rS40aB7S9Ucbxw6v.

DLAI, The Industry Body for Digital Lenders and Fintech Cos, Inks MoU with SIDBI and Releases New Code of Conduct

SIDBI CMD Released Digital Lenders Association of India’s (DLAI) Industry Code of Conduct

Framework for Driving Faster Digital Adoption for catalysing financial inclusion and Streamline Direct Lending Collaborations for DLAI members

The Digital Lenders Association of India (DLAI) and the Small Industries Development Bank of India (SIDBI) recently announced that they have formally signed an MoU to propel the growth of the fintech sector in the country. Mr. Sivasubramanian Ramann, CMD SIDBI, also released DLAI’s latest version of the Industry Code of Conduct (CoC) document at the UnConclave 2023 organised by DLAI in Goa on September 23, 2023. The event was attended by the top 100 executives of the Indian fintech industry.

The new version of CoC is structured around the RBI’s Digital Lending Guidelines and takes into account important aspects such as Responsible Lending, Transparency, Fair Debt Collection Practices, Data Privacy and Security, Compliance with Regulatory Framework etc.

Speaking at the occasion, Mr. Ramann, said “High growth in Indian Fintech sector has been driven by best in class Public Digital Infrastructure (PDI) and matured policy support from regulator. It’s for the industry to leverage the Digital lending guidelines of RBI to develop responsible lending practices and the code of conduct prepared by DLAI is an important first step in this direction. We are happy to work with the Industry on other important aspects like standard protocols, customer protection, grievance redressal, etc. to facilitate faster adoption of digital lending. As a part of its business strategy SIDBI is using digital technology and partnerships to directly reach out micro enterprises. SIDBI will explore offering its credit products through the DLAI members.”

The MOU with SIDBI, is to establish a framework for collaboration between DLAI, the members of DLAI and SIDBI. Some of the key highlights of the MoU are as follows:

• Collaborations to Boost Digital Adoption: Collaborating with SIDBI to develop standard protocols to expedite the adoption of digital lending partnerships including alliances between Banks and Lending Service Providers (LSPs), Co-lending collaborations, developing model partnership agreements, etc.
• Enhancing Public Good Interventions: SIDBI to consider support to DLAI to recommend significant public good interventions in areas such as client protection, customer Grievance redressal mechanism, financial literacy, research and publications, etc.
• Direct Lending Collaborations: SIDBI will explore partnerships for its “Prayaas” Scheme for informal enterprises, co-lending, GST Sahay, Express loan, green financing, etc and other direct credit schemes SIDBI.
• Providing Liquidity for DLAI members: SIDBI shall provide resource support to eligible DLAI member NBFCs and also explore Assignment and Securitization transactions.

Speaking at the MoU announcement, Mr. Jatinder Handoo, CEO, DLAI, shared, “SIDBI is the apex Institution for development of MSME sector in the country. This partnership signifies an important step in India’s fintech journey for enhancing their role in financing to MSME sector. Both organizations are committed to leveraging our combined expertise and resources to pit the sector on high growth trajectory with responsible lending with innovation enbedded therein.”

About Small Industries Development Bank of India (SIDBI):

SIDBI is India's principal financial institution in India for promotion, development and financing of Micro, Small, and Medium Enterprises (MSMEs). SIDBI plays a critical role in supporting entrepreneurship, economic growth, and financial inclusion across the nation though various programs like credit guarantee, direct credit, venture capital, digital platforms, government program management, etc.

About Digital Lenders Association of India (DLAI):

DLAI is a prominent industry body representing digital lenders and fintech companies in India. DLAI is dedicated to promoting responsible lending practices, fostering innovation, and advocating for the interests of its member organizations in the digital lending ecosystem.

For media queries related to DLAI: Ms. Nisha Khetan at nisha@cubicpr.com

Startup Odisha Launches ₹100 Crore Odisha Startup Growth Fund (Fund of Funds) With SIDBI As Fund Manager

Startup Odisha and SIDBI sign MOU to manage 100 Crore Odisha Startup Growth Fund (OSGF)

Aimed at transforming the state into a startup destination by creating a conducive environment for startups to flourish

Startup Odisha, an initiative of the MSME Department of the Government of Odisha has today launched a one-of-its-kind ₹100 Crore Odisha Startup Growth Fund (Fund of Funds) with Small Industries Development Bank of India (SIDBI) as the fund manager. This fund is truly unique due to its perpetual nature. When the initial corpus of ₹100 Crore gets exhausted, the state government would consistently replenish the fund, ensuring continuous, long-term support for startups.

SIDBI will serve as the fund manager for the Odisha Startup Growth Fund (Fund of Funds), responsible for shaping its investment strategy and managing its portfolio. Established by the Government of Odisha as part of its Fund of Funds initiative, the OSGF is dedicated to investing Rs. 100 Crores over five years through Alternative Investment Funds (AIF) in Odisha-based startups. This collaboration is set to play a crucial role in bolstering the MSME sector, which contributes 33% to India's GDP and generates over 120 million jobs.

Smt. Anu Garg, IAS Development Commissioner cum Additional Chief Secretary, said, “Our endeavour through the launch of Odisha Startup Growth Fund is to make Odisha the preferred destination for entrepreneurs. Odisha is at the cusp of transformational change and the Government of Odisha aims to extend its support to initiatives like this that help the citizens of this state to grow. Together, we are paving the way for innovation to flourish, startups to thrive, and the MSME ecosystem to grow even stronger. In this dynamic environment, Startup Odisha is adding to the inclusiveness of the Odisha growth story.”

Dr. Omkar Rai, Executive Chairman, Startup Odisha, said, "The Launch of Odisha Startup Growth Fund marks a pivotal moment in our mission to foster a vibrant startup ecosystem in Odisha. We are dedicated to providing our state's startups with the essential financial backing required for their growth. This fund symbolizes our unwavering commitment to nurturing innovation, catalysing job creation, and propelling our startups to succeed both at the national and global levels. We are crafting a future where Odisha would be recognized as a beacon of entrepreneurial excellence.”

Shri S. Ramann, Chairman & Managing Director, SIDBI said, "We are extremely glad to be working with Startup Odisha and support the growth of Odisha's startup ecosystem. Through financial support and guidance, we will empower startups to thrive as well as make significant contributions to Odisha's economic landscape. This partnership will add another layer to our efforts, setting the stage for the state to become a startup funding hotspot in the next 5-10 years. SIDBI is aiming to continue to act as a catalyst to mobilise domestic capital for country’s startup ecosystem.”

Shri Saswat Mishra, IAS, Principal Secretary, MSME Department, said, “The launch of Odisha Startup Growth Fund will support the development of the entrepreneurial ecosystem in the state. We are committed to financially enable startups in Odisha with conducive policies and funds. Startup Odisha along with SIDBI will be working towards disbursing the funds to high-potential startups.”

Odisha Startup Growth Fund (OSGF) operates as a Fund-of-Funds Vehicle, designed to offer co-investment assistance along with a centralized tracking and implementation mechanism. The predominant financial instruments utilized by OSGF prioritize equity or quasi-equity investments, reflecting its commitment to nurturing long-term growth and sustainability within the startup ecosystem.

Odisha boasts a flourishing startup landscape, home to over 1700+ dynamic startups, including 600+ women-led enterprises. This thriving ecosystem is supported by 15 nodal agencies, 27 incubators, and a centralized incubator ‘O-Hub’ that provides an impressive 4 lakh sqft of incubation space.

About Startup Odisha

Startup Odisha under the MSME Dept. Govt. of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016. The vision is to introduce a holistic and inclusive ecosystem for the existing and aspiring startups, establish itself as one of the top startup hubs in the country, and enable the youth of Odisha to become Job-Creators and support the state in employment generation. With the unique support system under the Odisha Startup Policy 2016, Startup Odisha has supported Women/SC/ST/PH/Transgenders-led startups/ entrepreneurs by providing them with financial grants, subsidized incubation and exposure in participating in various national and international events. Since its inception, Startup Odisha has been home to the best entrepreneurial minds & has already supported and facilitated more than 1700+ Startups, with 600+ startups led by women directors, founders and co-founders. It houses the facilities and services ranging from a world-class infrastructure with state of an art facility called O Hub to the best Incubation facility supported by a proactive team, the aim is to take a leap for registering a minimum of another 5000 startups with recognition by 2025. Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. We have been the top performing Startup Hubs for three consecutive years in the country.

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Anicut Capital Gets Over $6 Mn from SIDBI Startup Fund of Funds

Chennai headquartered Anicut Capital, an alternative investment firm, has raised Rs 50 crore (about $6 million) for its equity investments fund "Grand Anicut Fund–3" (GAF-3) from the Small Industries Development Bank of India (SIDBI) Fund of Funds for Startups (FFS).

Anicut Equity Fund launched its Grand Anicut Fund 3 in June 2022 with a total targeted corpus of ₹500 crore, with an additional ₹250-crore green shoe option. It has so far closed two-thirds of the fund and also received a commitment of Rs 75 crore (about $9 million) from the Self Reliant India Fund (SRI).

Anicut Capital is a multi-asset financial institution with offerings in debt and equity.

GAF-3 is focused on the consumer and technology sectors, and aims to invest in 12-14 early growth-stage companies in the Series A and B stages across the Anicut and non-Anicut portfolios, over the next 18-24 months.

Since its launch, the fund has invested in 6 startups, that are — Earth Rhythm and The Ayurveda Experience, Neemans, Wheelocity, Blue Tokai Coffee, and mens apparel brand XYXX.

The latest fundraise comes through the Fund of Funds for Startups, launched under the Startup India Initiative by the Government of India. SIDBI is an existing investor in Anicut Capital and has invested in both of its debt funds. The bank had invested Rs 140 crore (about $16.9 million) in Anicut's second debt fund.

Prior to Grand Anicut Fund – 3 (GAF-3), Anicut had earlier launched two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Anicut Opportunities VC Fund. Cumulatively, Anicut managed an AUM of INR 1600 crores with investments in early and growth stage start-ups. Anicut's portfolio companies include brands like Wow! Momo, Bira, Sugar cosmetics, Earth rhythm, Wingreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, Grip Invest, to name a few.

To Promote DeepTech and Science-led Startups SIDBI Setting Up ₹20 Cr Accelerator Fund with CIIE at IIM Ahmedabad

SIDBI, the principal financial institution for MSMEs in India, will set up a SIDBI Accelerator Fund at CIIE, a startup incubator established by IIM Ahmedabad, with an initial corpus of Rs 20 crore.

SIDBI is partnering IIM Ahmedabad as part of its new initiative "India of Tomorrow" under which it collaborates with different incubators in the country to promote deep technologies and science-led innovation by enabling seed funding to startups in exchange for equity.

The programme focuses on supporting startups with meritorious ideas and technologies important for India’s goals for 2047 to become self-reliant as well as a dominant player in high quality/ high entry barrier products/services.

The partnership would facilitate institutional seed investment in early stage viable and scalable ventures in future.

Sectors aimed to be supported include deep tech, hardware/ product startups, energy, clean tech, pharmaceuticals, biotech, defence innovations, rural, social and industrial technologies, high quality components, chips and other R&D driven startups.

During the program, six start-ups made a presentation on their ideas, methodology and the likely amount of seed capital required for scaling up their operations.

 

Avaana Climate and Sustainability Fund Secures Ist Close of $70 Mn for India's 1st Early Stage Climate-focused Fund; SIDBI, SRI Fund, UKIDCF, among others Participate

Avaana Climate & Sustainability Fund will invest in technology-led global climate solutions built from India

Avaana Capital, India's leading climate-focused venture capital firm, has achieved a significant milestone in India's emerging climate-tech ecosystem by securing commitments of USD 70 million for their first close in Avaana Climate and Sustainability Fund. The firm is targeting a total corpus of $100-125 million for the fund, which will focus investments in three sectors that are responsible for 90% of India's emissions: Energy Transition & Resource Management; Mobility & Supply Chains and; Sustainable Agriculture & Food Systems. Since its launch the fund has garnered strong interest from global and domestic Limited Partners (LPs). It has attracted renowned institutional investors, including Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, the UK India Development Cooperation Fund (UKIDCF) and marquee corporates such as Godrej Group, Murugappa, Torrent, Tsadik, and Bellerive Capital, among others.

Left to Right- Anjali Bansal, Swapna Gupta & Shruti Srivastava

Led by industry veterans Anjali Bansal, Swapna Gupta, and Shruti Srivastava, Avaana Climate and Sustainability Fund will further invest in tech-driven and innovative climate solutions, looking to solve climate risk mitigation, adaptation and resilience building. Avaana Capital has made notable portfolio investments such as Eeki Foods, Aerem, Kazam, sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do.

“With significant global capital flowing, supportive policies, corporate interest and wealth of entrepreneurial talent in the climate sector, India's climate-tech story is rapidly progressing. At Avaana Climate and Sustainability Fund, we evaluate over 200 new climate opportunities every quarter,” said Anjali Bansal, Founding Partner, Avaana Capital.

“At Avaana Capital, we recognize that India is integral to global climate solutions and invest in climate solutions for India and the world. Our technology and innovation-first approach, deep sector expertise, and strong relationships across the ecosystem help us build large-scale outcomes in climate and sustainability. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains and Sustainable Agriculture and Food Systems,” said Swapna Gupta, Partner, Avaana Capital.

"India, with its responsibility to uplift the standards of living for over 400 million citizens, requires swift acceàleration in the adaptation and adoption of technology for climate action. Avaana is the leader in climate tech and the crucial mission of mitigating climate risk. SIDBI is delighted to support Avaana's remarkable progress and applauds their efforts in taking the pole position in this vital endeavour,” said Shri S Ramann, Chairman & Managing Director, SIDBI.

Christina Scott, Acting British High Commissioner to India, said, “The UK is proud to support development partnerships and investments that are helping to address some of the biggest global challenges. I am pleased our new investment in the Avaana Fund will support innovative businesses develop solutions to climate change and inclusion.”

Suresh Kohzikote, from Self Reliant India (SRI) Fund, shared, "The SRI Fund's investment objective is to support onward growth capital to boost the economy and create a self-reliant India. Our partnership with Avaana Climate and Sustainability Fund — India's first tech-led climate fund — is to realise those objectives through climate solutions from India.”

As the world's second-largest population and sixth-largest economy, India plays a critical role in global climate solutions. Our transition to sustainability must prioritise people, planet, and profits. Technology-led disruption in sectors like energy, resources, mobility, supply chains, agriculture, and food systems holds immense potential. Climate-tech investments in India have surged, attracting $1.2 billion from 2016 to 2020, with a focus on renewable energy and electric mobility. To achieve India's net-zero emissions goal by 2070, approximately $2.5 trillion in investments is needed by 2030. Avaana Capital's Climate and Sustainability Fund aims to mobilise capital and support innovative climate solutions aligned with India's targets.

About Avaana Capital

Avaana Capital is an early-stage climate-tech investor in India. Avaana Climate and Sustainability Fund invests in future market leaders who are leveraging technology-led innovation to build and scale solutions for climate and sustainability while delivering exponential returns. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains and Sustainable Agriculture and Food Systems. Avaana integrates four ecosystems that drive successful outcomes for climate solutions and sustainability: Digital Innovation, Industry Linkages, Policy and Research, and Catalytic Capital.

Avaana’s Team has previously made investments in unicorns and category-leaders like Nykaa, Urban Company, Darwinbox, Delhivery, NinjaCart etc. Investments from Avaana include the likes of FarMart, Ninety One, Eeki Foods, Eggoz, Turno, Terra.do, Aerem, Kazam, sentra.world etc. The Company has offices in Mumbai and Bangalore.

SIDBI Announced Mission 50000-EV4ECO to Strengthen the EV Ecosystem Through Direct and Indirect Lending

Greening Enterprise Eco system- SIDBIs dedicates Mission 50000 - EV4ECO

Strategic financial engagement to uptake EV

Small Industries Development Bank of India (SIDBI), the country’s Principal financial institution for MSMEs, announced Mission 50K-EV4ECO thereby prioritising EV ecosystem development. This is pilot phase to strengthen the EV ecosystem including uptake for 2-w, 3-w and 4-w through direct and indirect lending.

Detailed discussion with stakeholders has revealed that access to adequate finance including competitive rate of interest is a challenge face by MSMEs as also NBFCs, catering to EV ecosystem. On supply side banker perceived these projects as high risk. Similarly, dedicated NBFCs struggle with the high cost of funds which leads to the landed acquisition cost to the ultimate beneficiary being high. Also, there is a need to push the 3 wheelers EV segment. Mission 50K intends to attend to these challenges.

Shri Sivasubramanian Ramann, CMD, SIDBI said “In line with national mission of EV30@30 SIDBI has adopted EV as priority and by launching mission 50K- EV4ECO we intend to promote the entire EV value chain. This pilot shall be followed by scaling up support to eco system from multilaterals support. MSMEs, aggregators and other crucial actors of EV value chain have been facing challenges in convincing financial institutions to lend them. Similarly, the channelising agencies are also facing speed breakers. NBFCs are playing an important role in the enterprise growth strategy of SIDBI. They have shown willingness and ability to reach the bottom of the pyramid businesses, especially in credit deficient geographies, adoption of innovative and nimble credit delivery models and understanding of the local ecosystem. Electric vehicle financing is predominantly being done by small/ unrated NBFCs. These NBFCs have good knowledge of the EV sector. At present, it is not possible for these NBFCs to cater to all MSMEs requiring financing for an electric vehicle for their day-to-day operations or commercial use. We at SIDBI realise the need to give it a developmental push thus giving fillip to the national agenda of Carbon neutral nation”.

Shri Sudhendu Sinha, Adviser (Infra & e-mobility), NITI Aayog said “India has set an ambitious climate change mitigation target and has committed to low-carbon growth in the energy and transport sectors. The transition to electric vehicles (EVs) is a critical cornerstone for transport sector decarbonization. Electric 2/3 wheelers (e-2/3Ws) offer the greatest potential for EV adoption in India, accounting for 79% of passenger road activity, and are already cost-competitive relative to conventional vehicles. To support India’s commitment to EV30@30, SIDBI taking lead in launching the Mission50K-EV4ECO scheme is a step in right direction. This shall enable access to affordable financing for electric vehicles. We look at SIDBI to prioritize the 3-wheeler segment. I am sure these feet on ground pilots shall enable quick replicability and scalability through multilateral support. With special scheme for NBFCs I am confident that mission shall kindle the appetite of BHARAT i.e rural India to start its EV transition journey. “

Under guidance of NITI Aayog, DFS, MoF and GoI, SIDBIs Mission 50K-EV4ECO intends to unlock the market by providing better financing terms and to understand other solution bouquet needed to address the above issues. This scheme is the precursor to EVOLVE scheme by SIDBI-World Bank. The pilot scheme has two components- Direct lending and Indirect lending.

Under direct lending, SIDBI will directly give loans to eligible MSME’s (including aggregators, fleet operators, EV leasing companies) for the purchase of electric vehicles and develop charging infrastructure including battery swapping.

The Indirect scheme targeted at NBFCs (including small unrated/ focused /emerging NBFCs actively engaged in EV financing) shall reach out to last mile by inducing access to funds as also reducing landed cost.

For more details, kindly contact nearest SIDBI office or write to us at gcfv@sidbi.in

About SIDBI:

SIDBI is the principal financial institution set up under an Act of Parliament for promotion, financing and development of the Micro, Small and Medium Enterprise (MSME) sector and for coordination of functions of institutions engaged in similar activities. Over the years, SIDBI has been instrumental in taking up various initiatives for the development of the MSME sector through credit and more importantly, credit plus activities.

About NITI Aayog:

The National Institution for Transforming India (NITI Aayog) was formed via a resolution of the Union Cabinet on 1 January 2015. NITI Aayog is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs. The Government of India, in keeping with its reform agenda, constituted the NITI Aayog to replace the Planning Commission instituted in 1950. This was done to better serve the needs and aspirations of the people of India. An important evolutionary change from the past, NITI Aayog acts as the quintessential platform of the Government of India to bring States to act together in national interest, and thereby fostering Cooperative Federalism. NITI Aayog also houses ‘National Mission for Transformative Mobility & Battery Storage’ that is driving the E-Mobility all over the country.

Biotech Company OmniBRx Raises INR 30 Cr in Series A Funding from SIDBI Venture Capital

OmniBRx (www.omnibrx.com ): A bioprocess engineering company announced a Series A equity raise of INR 30 crore from SIDBI Venture Capital Limited (www.sidbiventure.co.in).

Commenting on the occasion, Mr. Ravindra Patel, founder and CEO of OmniBRx Biotechnologies said “We are thankful to the team at SVCL for believing in our vision and backing us on our expansion plans”. He further added that "Scalable and Efficient bioprocessing technologies, specifically the Single-use bioreactor platforms are in high demand worldwide for the production of vaccines and other biologicals. Innovation based technology solutions from OmniBRx has potential to meet these exponentially growing market demands of biologics and vaccines.

The CellBRx Single- use Bioreactors from OmniBRx is the world’s largest and most efficient vaccine manufacturing platform for large scale vaccines and viral vector Production. OmniBRx is also the creator of world's first integrated seed train development platforms in close-loop sequentially programmed bioreactor systems” Ravindra added.

With infusion of series-A funds, OmniBRx is all set to expand their business in the overseas market. The company would also invest in adding to its capacity and build best in class manufacturing facilities to augment its production capabilities and meet growing market demands.

Sajit Kumar. Sr. VP at SIDBI Venture Capital Limited quoted “We are happy to partner with OmniBRx. We believe that their focus and deep domain knowledge will help them to penetrate the global markets. This is our third investment out of “Ubharte Sitaare Fund”, fund for MSME’s focused on scaling up in the export markets. Wishing them all the best".

Delhi based Indus Capital a boutique investment bank, founded by Mr. Santosh Patra was the exclusive financial advisor to OmniBRx for this transaction.

About OmniBRx (www.omnibrx.com):

OmniBRx is an Ahmedabad based Bioprocess engineering company focused on design and development of novel single-use bioreactors (SUB's) for cell culture based bioprocessing applications i.e. Vaccines, Gene therapies and biologics production. The Company was incorporated in 2016 and successfully launched their innovative products like CellBRx and MiniBRx single-use Bioreactor platforms.

About SIDBI Ventures:(www.sidbiventure.co.in) 

SIDBI Venture Capital Limited (SVCL), incorporated in 1999, is a wholly owned subsidiary of SIDBI (www.sidbi.in), the Apex Financial Institution in India for the MSME sector. Over the years SVCL has set-up and managed several Venture Capital Funds / AIFs, “Ubharte Sitaare Fund” is the eighth Fund set-up and managed by SVCL.

SIDBI and ONDC Ink MoU to Accelerate E-Commerce for Small Industries

SIDBI and ONDC ink MoU to accelerate E-Commerce for Small Industries

Open Network for Digital Commerce (ONDC) in partnership with the Small Industries Development Bank of India (SIDBI) is aiming to democratise and accelerate the participation of MSMEs.

ONDC, a first-of-its-kind initiative to democratize the country's e-commerce ecosystem has signed a Memorandum of Understanding (MoU) with SIDBI, the principal financial institution set up under an Act of Parliament for promotion, financing and development of the Micro, Small and Medium Enterprise (MSME) sector and for coordination of functions of institutions engaged in similar activities. The partnership is aimed to change the landscape of MSMEs by bringing them into the ONDC network and accelerating their participation in e-commerce.

SIDBI and ONDC ink MoU to accelerate E-Commerce for Small Industries

The association between ONDC and SIDBI will establish a programmatic approach for MSMEs where sessions will be held first to educate them about ONDC, then masterclass sessions on ONDC protocol and MVP definition, followed by incentivised accelerator programs and finishing with participants and their ecosystems going live and being able to transact

The MoU, signed by Shri Sivasubramanian Ramann, CMD, SIDBI and Shri T Koshy, MD&CEO, ONDC, provides for several collaborative efforts by SIDBI and ONDC in helping MSMEs access open network e-commerce platform proposed by ONDC

T. Koshy, MD & CEO, ONDC, said, “We are building a network of networks and through this MoU, we will connect the SIDBI network with ONDC, which will revolutionize the ecosystem of small industries. This initiative will be a driving force to initiate the participation of the small industries across the country onto e-commerce on a larger scale and enable their growth.

S.Ramann, CMD, SIDBI, said “ SIDBI is very keen to ensure success of this important national initiative and it will leverage its strong relationships with all major MSME industrial clusters in the country starting with Morbi, Coimbatore and Ludhiana for engagement with ONDC. SIDBI will also facilitate engagement of ONDC with its network of partner grassroots agencies, inter-alia, working for market access to informal enterprises. Three partners being introduced to ONDC are Annapurna Finance Pvt. Ltd, Access Livelihoods Group and the women co-operative ‘Looms of Ladakh’. SIDBI will also use its strong presence in fintech ecosystem to explore e commerce embedded financing solutions.

About ONDC

Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India build envisioned to create a facilitative model to revolutionize digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software, but a set of specifications designed to foster open, unbundled, and interoperable open networks thereby eliminating the dependency on a single platform.

Major ONDC objectives are as follows:

1. Democratisation and decentralization of eCommerce
2. Inclusivity and access for sellers, especially small and medium enterprises as well as local businesses
3. Increased choices and independency for consumers

SIDBI Partners With SVC Bank for Empowering MSMEs

The MoU signed will enable SVC Bank to tap into SIDBI’s Refinance facility to facilitate credit flow to MSME clients

SVC Bank becomes the first Urban Co-operative Bank to initiate a unique refinancing partnership with SIDBI

SVC Co-operative Bank Ltd. (SVC Bank), one of India’s leading co-operative bank and Small Industries Development Bank in India (SIDBI), country’s apex financial institution for micro, small and medium enterprises (MSMEs), today announced entering into a partnership through an Agreement.

The Agreement was signed by Shri Ashish Singhal, MD, SVC Bank and Shri Sanjeev Gupta, GM, SIDBI in Mumbai on July 28, 2022. As per the agreement, SIDBI will extend Refinance facility to SVC Bank to facilitate an improved flow of credit to MSMEs.

Commenting on the occasion, Mr. Ashish Singhal, Managing Director, SVC Bank, said, “MSME sector is the backbone of the Indian economy in terms of exports, employment creation and revenue to exchequers. SVC Bank has been supporting the MSMEs as a trusted partner for more than 115 years. We believe that access to affordable capital will prove to be a shot in the arm for the sector. In line with the Government of India’s vision of an Aatmanirbhar Bharat, SIDBI has proven to be the driving force for resolving the issues relating to MSMEs. We are proud to partner with SIDBI as the first UCB to participate in their vision of empowering the MSMEs.”

SIDBI is the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small, and Medium Enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities, has recently decided to extend refinance assistance to eligible scheduled Urban Co-operative Banks (UCBs) and Regional Rural Banks (RRBs). This is the first such agreement executed with a UCB. SIDBI will sign more such Agreements with other UCBs and RRBs across various States.

Speaking on the agreement, Shri Sanjeev Gupta, General Manager, SIDBI, said, “We consistently work towards offering an empowered ecosystem to the Indian MSMEs. Towards this, we have now extended our partnership with various Scheduled Commercial Banks, SFBs and NBFCs to an urban co-operative bank. The focus is on aligning with the leaders across all segments, which can boost economic participation and upscale of India’s most promising aspirational powerhouses termed as MSMEs. We are elated to partner with SVC Bank. Being a century-plus young bank, SVC has demonstrated success in empowering communities. We will, in time, expand our refinance services to other banks as well.”

Set up in 1906, SVC Bank has contributed significantly to the development of the cooperative movement in India for over a century. Today, the Bank is one of the oldest and most recognized names in the country’s co-operative Banking space and remains the country’s only multi-state scheduled Bank with a presence across 11 states – Maharashtra, Karnataka, Goa, Gujrat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana, Tamil Nadu. With a total business of INR 29,659.53 crore and a Net Profit of INR 150.21 crore (FY 20-21), it has proven its robust and strong fundamentals. Headquartered in Mumbai, the Bank has a vast spread of 198 branches, 214 ATMs and has an employee strength of over 2300. The Bank offers the entire gamut of services across Retail Banking, Corporate Banking and International Banking. SVC Bank was recently awarded for its 100+ years of service at the hands of Hon’ble Union Minister of Home Affairs and Cooperation – Shri Amitbhai Shah. It has also been acknowledged with many prestigious awards, like ‘Data Centers Award’ & ‘Enterprise Security Award’ at Express BFSI Technology Awards 2022, Award for Outstanding Response to Covid-19 at Co-operative Banks Ingenious Leadership Summit and Technology Awards 2022, and Best BFSI Brand Award 2021 at The Economic Times Best BFSI Brands. The Bank was among the first few co-operative banks in the country to get the Authorized Dealer Category I License (Independent Forex Operations) from RBI, in December 2007. In July 2008, it launched its International Banking Division, which today handles more than Rs. 3,000 crore forex business.

Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental engagements. SIDBI 2.0 carries the vision of inclusive, innovative and impact-oriented engagements.

To know more, check out: https://www.sidbi.in

SIDBI Joins Hands with UPEIDA to Support MSMEs in Aerospace & Defence (A&D) Sector

Small Industries Development Bank of India (SIDBI), the country's principal financial institution engaged in the promotion, financing, and development of Micro, Small and Medium Enterprises (MSME), has entered into a Memorandum of Understanding (MoU) with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) to enlarge the financial outreach and to support MSMEs in Aerospace & Defence (A&D) sector through direct financing.

The MoU executed by Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI and Shri Awanish Kumar Awasthi, IAS, Chief Executive Officer, UPEIDA, was, formally exchanged by Shri Prakash Kumar, Chief General Manager, SIDBI.

Under the MoU, SIDBI would consider funding financial requirements of MSMEs setting up/ having units in Uttar Pradesh Defence Industrial Corridor (UPDIC) and other industrial areas developed by UPEIDA. The MoU would help MSMEs to set up industrial units in the state of Uttar Pradesh. The key highlights of the arrangement are —

• when any allotment letter(s) for industrial land are issued by UPEIDA, it shall provide details of allottees to SIDBI, 
• SIDBI will contact the allottees for their financial needs. On receipt of the duly filled in application, SIDBI will process the same as per guidelines, 
• the present arrangement is aimed at development of a strong foundation for MSMEs in the state of Uttar Pradesh, which would attract investment from allottees and accelerate implementation of their projects, and 
• UPEIDA and SIDBI shall extend mutual co-operation for various other initiatives being undertaken for the benefit of MSMEs in UPDIC and other industrial areas developed by UPEIDA, which shall include, holding/ participating in outreach events, seminars and webinars for creating awareness among MSMEs about various financial products and initiatives being undertaken by SIDBI, including a dedicated web-portal (defence.sidbi.in), knowledge series for MSMEs in A&D sector, etc.

As regards the arrangement with UPEIDA, Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI said, "SIDBI's emphasis is on strengthening the MSME eco-system and realizing GoI's ideology of "Make In India" and making India "Self-reliant". This arrangement will support MSMEs setting up industrial units in the State of Uttar Pradesh by meeting their credit needs as well as addressing credit-plus requirements, viz, knowledge inputs through dedicated web-portal, literature, events/webinars etc."

About SIDBI: Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental engagements. SIDBI 2.0 carries the vision of inclusive, innovative and impact-oriented engagements.

To know more, check out: https://www.sidbi.in

Union Bank of India Signs MoU with SIDBI for Co-Financing arrangement of MSMEs

Union Bank of India today signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) for a Co-Financing arrangement for MSMEs. The MoU was signed by Shri Lal Singh, Chief General Manager, Union Bank of India and Shri Vivek Kumar Malhotra, Chief General Manager, SIDBI. SIDBI is country’s principal financial institution engaged in the Promotion, Financing and Development of Micro, Small and Medium Enterprises (MSME).

Shri Lal Singh, CGM, Union Bank of India and Shri Vivek Kumar Malhotra, CGM, SIDBI on singing of MOU

Under the MoU, Union Bank of India would consider Joint financing/ Co-Financing with SIDBI to Projects/Units in the MSME. This MoU would help the Banks to increase their customer base, while helping the MSMEs to meet their funding requirements. 

The key highlights of the arrangement include joint identification of viable projects and term loan and working capital financing to MSMEs. Initially the arrangement would be at specific centers and once the arrangement stabilizes at these centers, more locations would be covered.

Speaking on the occasion, Shri Lal Singh, CGM (MSME), Union Bank of India, said “MSME is one of the key sectors of our Indian Economy contributing to GDP, Exports, Manufacturing Output, Employment, Women Empowerment etc. MSME is one of the focused areas of the Bank and at Union Bank of India, we aim to become Bank of 1st choice for MSMEs. This tie-up with SIDBI aids in realizing the Bank’s vision to have increased credit flow to the MSME sector and extend operational convenience to the MSME clientele. Under partnership, Union Bank of India through its Pan India branch network can provide general Banking products like Current Accounts, Savings Accounts, Working Capital facilities and other related services to the MSME Customers of SIDBI.”

Also, speaking on the tie-up arrangement, Shri Vivek Kumar Malhotra, CGM, SIDBI reiterated SIDBI’s commitment towards timely financing for MSMEs across all sectors.

This comes a day after SIDBI signed MoU with Delhi Skill and Entrepreneurship University to nurture aspiring youth to infuse entrepreneurship and enterprise as preferred career choice.

Last month, Union Bank of India becomes the first public sector Bank to go live on the Account Aggregator Ecosystem for participating in Govt. of India’s Digital Initiatives.

Earlier in March, SIDBI, which is India's apex Financial Institution for financing and development of MSMEs, has acquired 7.84% stake in Open Network for Digital Commerce (ONDC) through an investment of Rs 10 crore. ONDC was incorporated in last year with an objective to create a first of its kind open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services.

To Skill Youths in Entrepreneurial Education, SIDBI Signs MoU with Delhi Skill and Entrepreneurship University

SIDBI signed MoU with Delhi Skill and Entrepreneurship University to accelerate Education 4 Entrepreneurship

Small Industries Development Bank of India (SIDBI) signed MoU with Delhi Skill and Entrepreneurship University (DSEU) to extend “Mission Swavalamban” by venturing into entrepreneurial education for skilled youths and similar other initiatives to give impetus for entrepreneurial education. 

SIDBI and DSEU partnered to nurture aspiring youth to infuse entrepreneurship and enterprise as preferred career choice. DSEU will develop a curated courses and launch multiple initiatives in partnership with SIDBI to help and guide aspirants to learn the basics of entrepreneurship and start their own Micro Enterprises. The MoU was signed at DSEU campus in Delhi on May 31, 2022. While SIDBI shall facilitate through its experience in entrepreneurship promotion, credit connect and linkages with Enterprise Ecosystem, DSEU would provide customized entrepreneurship courses to skilled and aspiring youths to set up enterprises as per market demand. DSEU shall also provide handholding and mentorship support to youth to launch and scale up their enterprises.

On this occasion Shri Sivasubramanian Ramann, Chairman and Managing Director of SIDBI said, “We are poised to be an ever-strong enterprising nation. In order to further strengthen the nations enterprise eco system, Sidbi intends to join hands with academic/specialized institutions / universities to take entrepreneurship course leading to job creator in making. Transitioning youth dreams into enterprise shall be mainstay of such collaborations. This structured initiative will lend impetus to the culture of entrepreneurship. We envision that by attending such focused course, a skilled person who aspires to become an entrepreneur, shall get hands-on experience for setting up enterprise.”. Dr R.K. Singh, CGM SIDBI while signing the MOU reiterated SIDBI’s commitment for MSMEs and vision to have one entrepreneur in every household.

Prof. Neharika Vohra, Vice Chancellor, Delhi Skill and Entrepreneurship University expressed joy at the signing of MoU with SIDBI and said that “this partnership with SIDBI shall lead to many innovative paradigms in the entrepreneurship ecosystem. We endeavor to build processes and systems with the support of SIDBI to enable young entrepreneurs, especially women entrepreneurs for ease of doing business in the city. The idea is to work on mindsets and building agencies rather than simply supporting them with a seed fund.”

About Delhi Skill and Entrepreneurship University

DSEU, set up by the Delhi Government, is envisioned as a world-class institution that provides quality education in applied sciences & skilling, has close market linkages, focuses on market readiness, promotes innovation and entrepreneurship, delivers lifelong learning opportunities to candidates, and provides a trained and employable human resource that can drive Delhi’s and the nation’s economic growth.

For more information, visit https://dseu.ac.in/

About SIDBI

Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures.

For more information, please visit:  https://www.sidbi.in/  

SIDBI Acquires Stake in Digital Infra Framework ONDC, for Rs.10 Cr.

Small Industries Development Bank of India (SIDBI), an India's apex Financial Institution for financing and development of MSMEs, has acquired 7.84 % stake in the open public digital infrastructure framework entity named Open Network for Digital Commerce (ONDC) through an investment of Rs 10 crore.

The DPIIT (Department for Promotion of Industry and Internal Trade) has launched Open Network for Digital Commerce (ONDC) to control digital monopolies and make the industry more inclusive for buyers and sellers alike. It is a government initiative to promote open networks for all aspects of the exchange of goods and services over digital networks. 

ONDC has been recently incorporated on December 30, 2021, with an objective to create a first of its kind open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services. 

Shri S Ramann, CMD, SIDBI said “We are confident that our investment in ONDC will help develop digital infrastructure which aims to democratize the digital commerce in the country.  The infrastructure created would serve as a public good by augmenting market access for MSMEs, particularly micro enterprises and retailers by lowering cost and effort for them to onboard the e-commerce market places. SIDBI, along with its network of Institutions, shall actively engage with ONDC to make this ambitious national project a success.”

SIDBI Signs MoU with CDAC to Strengthen Cyber Security Capabilities

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs), today signed a Memorandum of Understanding (MOU) with the Centre for Development of Advanced Computing (C-DAC), a premier R&D organization under the Ministry of Electronics and IT, Government of India, in a virtual event.

SIDBI and C-DAC will collaborate to explore innovation and use of emerging technologies in the areas of Cyber Security, AI/ML, block chain, etc. and related training and capacity building aspects in the Banking Sector.

The MoU was signed by Shri Sudatta Mandal, Deputy Managing Director, SIDBI, and Shri Magesh E, Executive Director, C-DAC, in the presence of Shri Satheesh G, Senior Director and Head, Cyber Security Group, Shri Senthilkumar K.B and Dr. Dittin Andrews, Joint Directors from C-DAC and Shri Ravi Tyagi, Chief General Manager, SIDBI, Shri Paramendra Tiwary, Chief Technology Officer, SIDBI, Shri Sudhir Tandon, General Manager, SIDBI.

Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental engagements. SIDBI 2.0 carries the vision of inclusive, innovative and impact-oriented engagements.

To know more, check out: https://www.sidbi.in

SIDBI’s Umbrella Mission 'Swavalamban' Endeavours To Induce Entrepreneurship Culture, Regard Women as Mainstay Influencers on the Society - CMD, SIDBI

SIDBI’s Umbrella Mission Swavalamban, endeavours to induce entrepreneurship culture, regard women as mainstay influencers on the society: Sivasubramanian Ramann, CMD, SIDBI.

SwavalambanSashakt Mega Campaign, a series of 20 Webinars initiated by SIDBI & COWE India aimed at giving fillip to the STAND-UP INDIA scheme of the Government of India concludes

SIDBI’s Umbrella Mission Swavalamban, endeavours to induce entrepreneurship culture, regard women as mainstay influencer on the society leading to transitioning of Aspirant Bharat from job seeker to Job creator said Mr Sivasubramanian Ramann, CMD, SIDBI.

He was the Chief Guest at the concluding session of SwavalambanSashakt Mega Campaign of SIDBI on Wednesday night. It was 20th and last in the series of webinars to promote Stand- Up India scheme - a step towards women empowerment.

The last and final session of SWAVALAMBAN SASHAKT MEGA CAMPAIGN held was based on the business module – IT Driven Innovative Services / AI based Solution, where the field experts shared the prospects and business opportunities.

The power packed session included insightful sessions from Mr. Akhilesh Trivedi, Global Mentor & Strategist, Ms Surbhi Jain, Ms Tanu Aggarwal and Banker Ms Banumathi. Immensely motivating sessions from Ms Kamla Poddar and SUI beneficiary Ms Bhagya Lakshmi Thyagrajan were the high points of this highly inspiring session on the virtual platform.

Ms Vandana Maheshwari, National President COWE India shared the vision and mission of COWE. Ms Madhu Tyagi, National Vice President, COWE INDIA and Chairperson of the webinar series and Ms Nidhi Toshniwal, National Jt. Secretary and Founder President, Rajasthan Chapter and Vice Chairperson of webinar series, shared the journey of this 20 webinar series.

Swavalambhan Sashakt Mega Campaign is a joint initiative of The Small Industrial Development Bank of India(SIDBI) and Confederation of Women Entrepreneurs of India (COWE) launched on 3rd February, 2021 with an objective to give fillip to the STAND-UP INDIA scheme of the Government of India

"Women Empowerment has always been a priority for SIDBI. The 'SWAVALAMBAN SASHAKT- Webinar Series" kindled aspirations of more than 1500 aspirants. I am sure many of these are ready to embark on entrepreneurial journeys under the national mission of Stand up India Scheme. With reduction of margin and addition of agri allied activities as eligible, GoI has widened the scope and access of the scheme. Aspirant youths should gear up to leverage these. I can assure that SIDBI shall further strengthen the digital eco system of Stand-Up India-through Udyami Mitra in order to create more opportunities and success stories of growth and business under Atmanirbhar India ", the CMD said.

All the 20 webinars were structured to offer dream come true feelings to participants. It was mostly held every week on Wednesday (except a few corona surge weeks). Each webinar showcased a Business model by an eminent expert from the relevant field.

Banker connected in every session, enlightened the budding entrepreneurs on the banking norms and the requisites of the SUI scheme from the Banker's perspective.

To raise the spirit of optimism and add to participants’ confidence, a Motivational speaker/ successful entrepreneur presented her success story along with a Stand-Up India loan beneficiary sharing her entrepreneurial journey, to motivate the participants to start their dream ventures.

The participants were also guided how to register on the STANDUPMITRA PORTAL and to avail various financial & non-financial services available on the Portal including how to connect with the hand holding agencies onboarded on the portal, COWE being one of the hand-holding agency onboarded.

To strengthen the MSME ecosystem and expose the participant women to various business models, the sessions focused on various viable business ideas including, Food processing, Medical sector, e-Commerce, Supplies to Hospitality and Hotel Industry, Support Services Sector, Biotechnology, Interior designing, Jewellery designing, Procurement with PSU, IT and IT services, opportunities in Travel and Tourism, Printing and Packaging, Textiles, Fashion Designing, Preschool franchise and Crèche, Event management, Modular kitchen franchise, Organic products, Handicrafts. The webinars could reach out to more than 1500 aspiring women entrepreneurs from across India.

With these extensive awareness initiatives, Stand-Up India scheme is turning out to be a great success for Women entrepreneurs, with nearly 82% of SUI beneficiaries being "Women" from all strata of society.

Stand up India Scheme was Launched on 5th April, 2016, by Hon’ble Prime Minister, Shri Narendra Modi ji, the scheme has been extended till the year 2025.

The objective of the SUI scheme is to facilitate bank loans for an amount between Rs.10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one Woman(of all strata) borrower per bank branch for setting up a greenfield enterprise in the field of manufacturing, trading & service industry including Agri Allied activities. And with the Union Budget 2021-2022, announcement to improve credit penetration under the scheme margin money requirement has been reduced from 25% to 15% and (activities allied to agriculture sector are eligible.

Govt. of Haryana and SIDBI join hands to develop MSME Ecosystem in Haryana

Government of Haryana through its Directorate of MSME and Small Industries Development Bank of India (SIDBI) entered a Memorandum of Understanding (MoU) today with the objective of development of the MSME ecosystem in Haryana.

The MoU was executed by Shri Vikas Gupta, IAS, Director General, MSME, Directorate of MSME, Govt. of Haryana and General Manager, SIDBI, Chandigarh. The signing ceremony was done in presence of Shri V S Venkata Rao, Dy. Managing Director, SIDBI who joined through video conference.

In line with expectation of U.K. Sinha Committee SIDBI has laid emphasis on more focused engagement with State Governments. SIDBI has spearheaded few initiatives towards strengthening of enterprise eco system. Setting up of project management Unit in 11 states is a key step in this direction. The first such MoU has been signed between Government of Haryana and SIDBI on August 7, 2020.

Under the arrangement, SIDBI shall set up a dedicated Project Management Unit (PMU) which will work in coordination with Govt. of Haryana and facilitate schemes / initiatives / interventions for benefit of MSMEs in the state. The focus areas shall include designing schemes for equity support, interest subvention, resolution of stressed MSMEs and learning events for MSME entrepreneurs.

SIDBI announces Liquidity to MSMEs through Banks, NBFCs and MFIs

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs), has launched special liquidity scheme for Micro, Small and Medium Enterprises (MSMEs) through banks including Small Finance Banks (SFBs), Non-Banking Financial Companies including fintech NBFCs and Microfinance Institutions (MFIs). The scheme would provide financial support to banks, NBFCs and MFIs by way of term loans to ensure operational continuity and promote onward lending to MSMEs. The tenor of these loans will be 90 days.

Shri Mohammad Mustafa, IAS, Chairman and Managing Director of SIDBI said, “We are continuously working towards helping MSMEs survive the crisis created due to the COVID-19 pandemic. Keeping the current situation in mind, we were provided a special liquidity window of Rs. 15,000 crore by the Reserve Bank of India (RBI) to enable MSMEs to tide over their liquidity crunch. The funds will be channelised to MSMEs through eligible banks, NBFCs and MFIs. We hope through this, MSMEs liquidity issues shall be addressed, timely and adequately."

To be eligible under this scheme, a bank (public sector bank, private sector bank, foreign bank and SFBs) should have a sizeable outstanding loan portfolio to Micro and Small Enterprises (MSEs)/micro credit and sound financials. As a bank (public sector, private and foreign) they should have been in operation for a minimum period of three years and should have earned profit for a at least two years out of the last three years. As per the last audited balance sheet, the bank should have a networth of minimum Rs. 100 crore, a Capital Adequacy Ratio (CAR) of not less than 9 percent and net Non-Performing Assets (NPA) ratio not exceeding 10%.

SFBs (including previous entry prior to conversion into SFB) should have earned profit during the last two years out of the three years of operation. The networth required is a minimum of Rs. 100 crore, the CAR should be at least 15 percent and the net NPA ratio should not be greater than 7 percent.

The eligible NBFCs will be the ones which are registered with RBI as Investment and Credit Company (ICC) and should have been in business for at least 3 years. They should have a minimum net owned funds of Rs. 20 crore and asset size of at least Rs. 50 crore. The credit rating of the NBFCs should be a minimum of ‘BBB-‘ or equivalent as on March 31, 2020. They should also have complied to applicable regulatory requirements and the promoter/equity should not be in any RBI blacklist or defaulters list. Besides that, the CAR should always be above RBI requirements during the last 24 months.

For MFIs to be eligible, they should have been in operation for at least three years and registered as a society, trust, company/section 8 company, NBFC-MFI or co-operative society. The MFIs should have a credit rating of at least ‘BBB-‘ or equivalent as on March 31, 2020 and the promoter/equity should not be in any RBI blacklist or defaulters list. The CAR requirement should not be below RBI requirements in the past 24 months and should have complied with regulatory RBI guidelines.