: SIDBI to ease lending operations to MSMEs #FinanceIndia #StockMarketNEWS #Business NT NETWORK Panaji “COVID-19 compelled the banking sector to adapt technology at a furious pace

@StockMarketNEWS Tue 21 Sep, 2021

Posted in: #Business #FinanceIndia #StockMarketNEWS

SIDBI to ease lending operations to MSMEs #FinanceIndia #StockMarketNEWS #Business
NT NETWORK

Panaji

“COVID-19 compelled the banking sector to adapt technology at a furious pace as technology was used to create a database of borrowers which made credit assessment easy,??? said S Ramann, chairman and managing director, Small Industries Development Bank of India (SIDBI), during a visit to the state.

Ramann who was speaking to members of local industry at a meeting organised by the GCCI pointed out that, the National e-governance Services Ltd (NeSL) is a perfect example of how technology is used to harness data of a borrower’s debt exposure and in turn help the financial institution in loan disbursements.

He disclosed that SIDBI has computerized its lending operations and is awaiting the state government’s approval of the digital stamping system. It would eliminate paperwork and make disbursement efficient.

“There are 15-20 schemes offered to MSMEs and SIDBI Goa would be more than happy to share information on all schemes with local industry,??? said Ramann.

He added that, SIDBI is open to taking over local MSME loans from banks in the state where MSMEs unit owners are facing difficulty in servicing the loans.

The SIDBI chairman was responding to request from Raj Kumar Kamat, chairman, industry committee, GCCI, to take over other bankp?&H?[??[?H?]H?]??[?[Y]?HX[?H??[?????X??H?Y???[??YH?[??X??X?H[X[?????H?[?????????[?[?]???????HX??]??X?H??[????[???
[??H[?X????[???[???[?[??H[????[???][?[???H?Q?H?Z?X[??^H??Z[?Y???]X??????[???X[[[?Y??????[?X?]H[?[???X][??]Z?Y?H?[Y????Y[??????X???[?????[[???X[[?]??]H???[???[????]??H??K]??????]Y?H??[?????[][?]H??[????H??????Z[??[?Z????[Y[??H???HY[X???[?Y?]]H??[HX?[X??HUT?[???H??]]??????[??[[???Y[???[?]?????K??Y??H???[??[?H??]?[?X??]H?H?[?[??X[[??]][???X??H?[?????X?H[???X?K??????[H???K??Y[????K?ZY]H???[?[?[???Y?[][???H??Y?H??X?? ?[?[??[???K?8?'???]??HZ[?[X[[?I?????????U ?[?UT?[???H]?Y??X?[?????H?[?[??K8???ZYH???K???????Y[?[???[?]???ZY]^H??H???[????ZX???[?[??H???H?Q?K??????[X[???????????Q??Q?H[?HZYH?H?X???]?H???Q????XZY[???]?H?]K?HYY][??????[??Y?HH[???H??[Z]YH????H[?][?Y?H[[?????????Y[???PH[?Y[X??????[[???K?