SIDBI to PROCURE ECBs

Press Information Bureau

Government of India

Ministry of Finance

30-November-2012 17:57 IST

Small Industries Development Bank of India (SIDBI) has been permitted to avail of ECB for on-lending to MSME Sector as defined under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 subject to certain conditions.

Government is not considering the utilization of such ECBs by SIDBI to divert into the Housing Sector. However, provision of ECB has been made for low cost affordable housing projects by project developers as well as for low cost/affordable housing units by NHB and Housing Finance Companies.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

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