SME Times is powered by   
Search News
Just in:   • DPIIT to examine pension funds investment in startups  • US stocks close higher on upbeat jobs report  • DPIIT to set up panels to sort out startups  • Axis Bank's CFO Jairam Sridharan steps down  • 'UK-US trade talks document leak linked to Russia' 
Last updated: 02 Dec, 2019  

msme-THMB-2010.jpg World Bank’s IFC invests $200mn for MSME lending

MSME.9.5.jpg
   Top Stories
» DPIIT to set up panels to sort out startups
» Sitharaman invites suggestions on GST
» Naidu calls for making 'Fit India' a mass movement
» Auto component sector's turnover falls over 10 pc
» Several schemes to push women entrepreneurship: Minister
SME Times News Bureau | 02 Dec, 2019

Mahindra and Mahindra Financial Services said on Monday the IFC, part of the World Bank Group, has anchored an investment round of $200 million in the company to create a dedicated pool for micro, small and medium enterprises (MSMEs) in low-income states.

In a regulatory filing, Mahindra Finance said the IFC had invested $75 million from its own account and was mobilising $125 million as parallel loans.

At least $100 million will be earmarked for women-owned MSMEs and supported by blended finance from the IFC-Goldman Sachs' Women Entrepreneurs Opportunity Facility.

Mahindra Finance has committed $225 million to this pool.

To expand financial services for MSMEs, the IFC had been systematically supporting India's non-banking financial companies (NBFCs), said Hemalata Mahalingam, Manager, Financial Institutions Group, South Asia, IFC.

Ramesh Iyer, Vice-Chairman and Managing Director, Mahindra Finance, said, "Mahindra Finance has been powering inclusive growth in rural communities for over 25 years. Our experience in these markets reveals that to achieve true financial inclusion, access to formal credit for financially under-served segments is a necessity. Availability of credit for income generation, especially to women and low-income households, will further accelerate financial inclusion."

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 08 Dec, 2019
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(2)
» MRF to set up a new plant in Gujarat(2)
» "Govt's mantra Sabka Saath, Sabka Vikas, Sabka Vishwas"(1)
» Forex reserves rise by $2.48 bn to over $451 bn(1)
» RBI holds key lending rates, remains accommodative(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter