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Question
Justify the following statement.
SIDBI provides different types of financial and non-financial services through its subsidiaries.
Solution
The following are the subsidiaries of SIDBI that provides financial and non-financial services:
- SIDBI Venture Capital Ltd. provides venture capital to emerging sectors, such as life sciences, biotechnology, pharmaceuticals, engineering, and information technology.
- Credit Guarantee Fund Trust for Micro and Small Enterprises is a trust to implement the Credit Guarantee Scheme through which credit faculties are extended without third party guarantee on collateral security by eligible lending banks/financial institutions.
- SME Rating Agency of India Ltd. was set up by SIDBI, Dum & Bradstreet Information Services India Pvt. Ltd. and several public, private and foreign sector banks as an MSME. It is a dedicated third-party rating agency and prov1de comprehensive, transparent, and reliable ratings and risk profiling.
- India SME Technology Services Limited is a platform where MSME’s can tap global opportunities for acquiring new emerging technologies and establish business collaborations.
- India SME Asset Reconstruction Company Ltd. is an asset reconstruction company. It acquires non-performing assets and tries to resolve them through its innovative mechanisms. It especially focuses on the non-performing assets of the MSME sector.
- Micro Units Development and Refinance Agency is established for ‘funding the unfunded’ micro-enterprises in the country.
- Thus, SIDBI provides different types of financial and non-financial services through its subsidiaries.
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