New Delhi: The National Stock Exchange (NSE) on Tuesday said it has entered into a pact with Small Industries Development Bank of India (SIDBI) to explore the feasibility of a debt capital platform for the MSMEs.
The entities signed a memorandum of understanding (MoU) for co-operation in various ongoing micro, small and medium enterprises (MSMEs)-related initiatives of the two institutions, the NSE said in a statement.
SIDBI Deputy Managing Director V Satya Venkata Rao said, “Keeping in view the 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.”
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According to him, both the institutions run several programmes for MSMEs, and the co-operation will help increase the impact and reach of these programmes.
He further said that an expert committee on MSMEs, headed by former Sebi chairman U K Sinha, has made several recommendations for the MSME sector. It includes need to develop additional instruments for debt and equity, which will help crystallise new sources of funding for MSMEs. In this regard, SIDBI will look forward to jointly work with the NSE to explore feasibility of a debt platform for unmet needs of the sector.
NSE Managing Director and CEO Vikram Limaye said the exchange is looking forward to working with SIDBI for exploring feasibility of a debt capital platform for MSMEs and based on the market feedback, the bourse will plan the next steps ahead.
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