ENA MSME 2019-08-03 10:09:31 <p><strong>Madurai, Aug 3 (KNN)</strong> In a bid to meet the financial needs of Micro Small and Medium Enterprises (MSMEs), Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with Madurai District Tiny and Small Scale Industries Association (MADITSSIA).</p> <p>Speaking on the occasion, Chitra Kartik Alai, General Manager of SIDBI, Chennai, said their focus was to meet the financial needs of MSMEs after understanding their problems.</p> <p>We hope this MoU benefits at least 50 industries in the next one year, she added.</p> <p>Through the MoU, which is mutually beneficial, over 1,500 members affiliated to MADITSSIA can avail loans under various schemes.</p> <p>Under the SMILES Fund (Small and Medium Enterprise Soft Loans Scheme), a soft loan could be availed up to Rs 75 lakh. It also provides collateral-free loans to businesses up to Rs 2 crore under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).</p> <p>Commenting on this, President of MADITSSIA, said the MoU would strengthen the relationship between the two organizations and help in the development of MSMEs.</p> <p>He asserted We will also have weekly meetings to help industries practice financial discipline. <em><strong>(KNN/LM)</strong></em></p> <p><iframe frameborder="0" height="540" id="mgiframe" src="//mg.mgid.com/mghtml/framehtml/c/k/n/knnindia.co.in.338951.html" width="100%"></iframe></p> 23361 https://knnindia.co.in/news/newsdetails/msme/sidbi-signs-mou-with-maditssia-to-facilitate-finance-to-msmes 2019-08-03 10:09:31 knnindia.co.in