New Delhi, Jan. 8
SMALL Industrial Development Bank of India (SIDBI) and Dun & Bradstreet are launching a joint venture company to help small and medium enterprises access funds in a more streamlined manner.
Both the partners will hold a 50 per cent stake in the company. US-based Dun & Bradstreet (D&B) already has a presence in India through its subsidiary Dun & Bradstreet Information Services Private Ltd (DBIL). SIDBI has incorporated a company titled SME Rating Agency of India limited (SMERA). DBIL will pick up a 50 per cent stake in SMERA for which the US-based parent company will infuse Rs 2.2 crore to start with, sources said.
DBIL's foreign direct investment proposal has been approved by the Government this week, the sources said. They pointed out that DBIL has been permitted to make the investment either through internal accruals or out of fresh remittances or through a combination of both.
SMERA would be engaged in activities such as scoring analysis, rating, evaluation and appraisal of small and medium enterprises. The sources said that the rating agency would start functioning from the beginning of the next fiscal.Related Stories:
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