Pune based NBFC, Electronica Finance Ltd, signs MoU with CGTMSE
Updated: Mar 22, 2017 07:55:59am
Pune based NBFC, Electronica Finance Ltd, signs MoU with CGTMSE
Mumbai, Mar 22 (KNN) Electronica Finance Limited (EFL), a NBFC, has signed Memorandum of Understanding with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
With this, EFL has become the first NBFC to sign a pact with CGMSTE.
According to a press note, Shilpa Pophale, Managing Director, EFL, said, “As a Member Lending Institute (MLI) under the Credit Guarantee Scheme, EFL will be able to continue as contribute even more towards growing the MSME segment and driving the economy.”
CGTMSE runs the Credit Guarantee Scheme (CGS), which provides guarantee for collateral free loans extended to eligible MSEs.
Pophale said PM Modi while addressing the nation of December 31, 2016, had announced the extension of the scheme to eligible NBFCs, prior to which it was eligible only for the banks.
The announcement, EFL, said is being seen recognition of the services provided by NBFCs in serving under-banked segments of the economy.
EFL is a Pune based NBFC which assists the MSMEs in 280 plus industrial hubs. EFL provides machinery loans, Industrial Property Loans, Working Capital Loans, Business loans, Bill Discounting etc. (KNN Bureau)