New Delhi: National Stock Exchange of India Limited (NSE) and Small Industries Development Bank of India (SIDBI) today signed an MoU for co-operation in various ongoing Micro, Small and Medium Enterprises (MSME) related initiatives of the two institutions and to also explore the feasibility of a debt capital platform for the MSMEs.
Speaking on the MoU, SIDBI DMD V. Satya Venkata Rao said, “Keeping in view the very large and diversified MSME sector in the country, there is a continuous need for various institutions to co-ordinate and co-operate with each other for the benefit of MSME sector. Both the Institutions run several programs for MSMEs and the co-operation will help increase the impact and reach of these programs.”
“The Expert committee on MSMEs, headed by U. K. Sinha, has made several recommendations for the MSME sector including a need to develop additional instruments for debt and equity which will help crystallize new sources of funding for MSMEs and in this regard, SIDBI will look forward to jointly work with NSE to explore feasibility of a debt platform for unmet needs of the sector,“ he further added.
Vikram Limaye, MD & CEO, NSE said, “NSE has always focused on innovation and use of technology for the benefit of the Indian Industry and Investors. We are committed to the MSME sector and one of the major MSME initiatives has been the SME Exchange, NSE Emerge and the joint venture with SIDBI for the TreDs platform, Receivable Exchange of India Ltd (RXIL) to solve the working capital problems faced by small businesses. We are looking forward to working with SIDBI for exploring the feasibility of a debt capital platform for MSMEs and based on the market feedback we will plan the next steps ahead.”