PHD Chamber of Commerce and Industry and Small Industries Development Bank of India (SIDBI) today signed a Memorandum of Understanding (MoU) to facilitate providing of various credit and other schemes of SIDBI to Micro, Small and Medium Enterprises (MSMEs) in the country.
According to a statement, Sanjay Aggarwal, President, PHDCCI and Dr S SAcharya, General Manager signed the MoU at the PHD Chamber premises.
“The MoU with SIDBI will help the Members of PHD Chamber avail all the schemes of SIDBI with comparative ease and better terms. SIDBI welcomed this initiative of PHDCCI and stated that their branch network all over the country will be happy to help PHD Chamber’s Members by providing assistance under various schemes run by SIDBI,” it said.
SIDBI is an all India financial institution dedicated to provide term loans, working capital and venture funding assistance to MSMEs and PHD Chamber will help in connecting its Members for availing all these products from SIDBI.
“As the Chamber has established a specialized MSME Centre for providing Mentoring & Guidance to MSMEs, It is entering into various tie-ups with various organizations like Banks, Financial Institutions, GeM, TReDS and others to make available the schemes of these organizations to the Member MSMEs,” it further said.