Bengal ties up with bourses to help SMEs tap capital market

The West Bengal government has signed pacts with BSE and NSE to raise awareness among the State’s MSMEs to tap the capital market as an alternate funding source. The State has the highest number of micro, small and medium enterprises — 52.7 lakh in 2016-17, employing about 1.1 crore people, according to official statistics. SME listing provides higher visibility at national level and this initiative is part of the government’s plans to expand their funds base. Bank credit to MSMEs in last seven years is estimated at Rs. 1.74 crore, according to the MSME and Textiles Department of West Bengal Government. To start with, the State government, is planning to get 100 SMEs listed on NSE Emerge platform by 2020. Through the pact, BSE will encourage them to tap domestic capital markets as an option for accessing capital for expansion while gaining national-level visibility. BSE will provide intellectual and manpower support in such awareness programmes. About 18 companies from West Bengal are already listed on the BSE SME platform.

Source : https://www.thehindu.com/todays-paper/tp-business/bengal-ties-up-with-bourses-to-help-smes-tap-capital-market/article24755957.ece

About ChinmayaIAS Academy - Current Affairs

Check Also

HUMAN DEVELOPMENT INDEX

CONTEXT: India ranked 131 among 189 countries on the Human Development Index (HDI) for 2019, …

Leave a Reply

Your email address will not be published.

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates