Small Industries Development Bank of India(SIDBI)
SUBSIDIARIES / ASSOCIATES
SIDBI Venture Capital Ltd. (SVCL),
a wholly owned subsidiary of SIDBI was set up in July 1999, is providing venture capital to emerging sectors, such as, life sciences, biotechnology, pharmaceuticals, engineering and information technology. It started off in 1999 with the `100 crore National Venture Fund for Software and IT Industry and later established the `500 crore SME Growth Fund in the year 2004. Till March 31, 2012, SVCL had committed ` 542 crore to innovative enterprises. In FY 2011-12, it commenced investments out of the ` 670 crore India Opportunities Fund, a fund focused on the MSME sector. During FY 2012-13, SVCL is scheduled to commence investments out of the `320 crore Samridhi Fund, a fund being set up with a major contribution from Department for International Development (DFID), UK and focused on fostering inclusive growth in 8 states, viz. Bihar, Madhya Pradesh, Odisha, Uttar Pradesh, Rajasthan, Jharkhand, Chhattisgarh and West Bengal.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)-
The Ministry of Micro, Small and Medium Enterprises, Govt. of India, and Small Industries Development Bank of India (SIDBI), established a trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement the Credit Guarantee Scheme (CGS). The scheme was formally launched on August 30, 2000. Under the scheme, credit facilities, are extended without third party guarantee on collateral security by eligible lending banks/Financial Institutions upto ` 100 lakh. The initial corpus of CGTSME of ` 125 crore has gradually increased and till March 31, 2012, it was ` 2158.79 crore. Cumulatively, till March 31, 2012, guarantee approvals were extended by CGTMSE to 7.92 lakh loans covering credit assistance of around ` 37,139 crore.
SME Rating Agency of India Ltd. (SMERA)
was set up in September 2005 by SIDBI, Dun & Bradstreet Information Services India Private Limited (D&B) and several public, private and foreign sector banks as an MSME dedicated third-party rating agency to provide comprehensive, transparent and reliable ratings and risk profiling. SMERA has achieved considerable success by rating more than 15,174 MSMEs till March 31, 2012.
India SME Technology Services Limited (ISTSL),
set up in November 2005, a platform where MSMEs can tap opportunities at the global level for acquisition of new and emerging/ green technologies or establish business collaboration. In order to help Indian MSMEs attain global competitiveness and achieve sustainable development, ISTSL renders total consulting solutions towards technology transfer, energy conservation and environment management, etc. The technologies are being disseminated amongst the MSMEs through the website viz. techsmall and other channels available to ISTSL. Besides, ISTSL is endeavours to forge workable linkage with technology transfer intermediary organizations from China, Korea, Japan and Europe etc. Efforts have also been made to facilitate energy efficient technologies leading to reduction in Green House Gases (GHG). Such initiatives of ISTSL are expected to strengthen and accelerate the process of technological modernization leading to sustainable development in the MSME sector. ISTSL has been focusing on the Clean Development Mechanism [CDM] as a potential area to help MSME achieve sustainable development.
India SME Asset Reconstruction Company ltd (ISARC)
was set up in April 2008 as an Asset Reconstruction Company (ARC) to acquire non-performing assets (NPAs) and to resolve them through its innovative mechanisms with a special focus on the NPAs of MSME sector. During FY 2012, ISARC acquired 41 NPAs from 6 banks for an aggregate principal outstanding of ` 55.48 Crore in both portfolio sale processes as well as bilateral sale by banks. As of March 31, 2012, ISARC has assets under management of approx. ` 368 Crore.