Debasish Acharya
Post news network
Bhubaneswar, Oct 7: Small Industries Development Bank of India (SIDBI) hopes to achieve 36 per cent growth in lending this fiscal in the state on the back of higher disbursal to energy efficient projects, a top official of the bank said. “We are hopeful to achieve 36 per cent growth in total outstanding in 2015-16 through increased focus on lending to energy efficient investment projects along with more soft loan under ‘SIDBI Make in India soft loan fund for Micro, Small & Medium Enterprises’ (SMILE),” a top official of the bank told Orissa POST said.
Spelling out the absolute numbers, the official said SIDBI eyes a total outstanding of Rs 260 crore this fiscal against Rs190 crore reported during last fiscal. “Out of the total lending, Rs 40 crore will be given to micro finance institutions (MFIs) as part of the refinancing portfolio against Rs 20 crore reported during last fiscal,” he said.
He also said it has plans to achieve an outstanding of Rs 220 crore under its direct lending portfolio which includes lending under the revival finance scheme. SIDBI had lent Rs 170 crore during the last fiscal under this scheme. Talking on the revival finance scheme, he said the banks make payment on behalf of the industries to small ancillary units to which it owes money.
On lending portfolio of the bank towards energy efficient investments in the state, the official said it is working in collaboration with Japanese agency namely Japan International Co-operation Agency (JICA) to finance energy saving projects in the state. JICA extends third line of credit to SIDBI to finance such energy efficient projects. “We are offering an interest rate concession of 50 basis points to borrowers who are willing to invest in energy efficient projects,” he said adding the bank also works with Price Waterhouse Coopers (PwC) to enlist the machinery under energy efficient category.
