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India: CII Finance Portal Raises Rs 85 Crore for MSMEs

India: CII Finance Portal Raises Rs 85 Crore for MSMEs

An online finance facilitation centre set up by the Confederation of Indian Industry (CII) in June to provide advisory and credit facilitation support to micro, small and medium enterprises (MSMEs) has helped the latter raise Rs 85 crore in the July-October period, according to CII sources. About 20 companies from the manufacturing, infrastructure, IT, energy, textile, agro-processing and e-commerce sectors have raised money during this period. CII expects to raise over Rs 400 crore by the end of the current fiscal year through the facilitation centre, which will operate as a one-stop shop, aggregating financing options from various major financial institutions.

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