SIDBI signs MoU with The Federal Bank Limited to Strengthen MSME financing

Small Industries Development Bank of India (SIDBI) and The Federal Bank Limited (FBL) signed MoU for financing MSMEs for growth and development of MSME Ecosystem. The arrangement is for providing financial assistance in the field of project finance, machinery/equipment finance, working capital (including letter of credit and bank guarantee), loan against property, etc. Further, joint financing shall also be explored while extending credit facilities to MSMEs. The MoU was signed by Shri Prakash Kumar, Deputy Managing Director, SIDBI and Shri Harsh Dugar, Executive Director, FBL in the presence of senior SIDBI and FBL officials.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 181.75 as compared to the previous close of Rs. 181.50. The total number of shares traded during the day was 101788 in over 1010 trades.

The stock hit an intraday high of Rs. 183.40 and intraday low of 180.75. The net turnover during the day was Rs. 18539099.00.

Source : Equity Bulls

Keywords

TheFederalBank INE171A01029 SIDBI MoU MSMEFinancing