Equifax is a global information solutions company that uses trusted unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions. Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard& Poor’s (S&P) 500® index and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. With a global legacy of over 117 years in the credit industry, in 2010, Equifax established a presence in India market and was licensed by RBI to operate as a Credit Information Company.
Equifax India is registered as Equifax Credit Information Services Private Limited (ECIS). It is a joint venture between Equifax Inc., USA and seven leading Indian financial institutions - State Bank of India, Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Religare Finvest Limited, Sundaram Finance Limited and Union Bank of India. Equifax India was granted its 'Certificate of Registration' on 26th March, 2010 by the Reserve Bank of India (RBI) to establish a credit information company under ‘The Credit Information Companies (Regulation) Act' 2005 (CIC Act). Over the last 7 years, the credit bureau has grown to thousands of members including banks, NBFC’s, microfinance companies and insurers. These members provide data on demographic and repayment information on millions of Indian consumers. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its database includes employee data contributed from more than 7,100 employers.
Equifax also launched a Microfinance bureau in India in 2011, collecting data from hundreds of microfinance lenders and providing a holistic view of the microfinance loans, and where linked, the retail borrowings of a customer.
We currently have a wide range of products on offer for credit grantors and borrowers - Basic Consumer Information Reports, Enhanced Consumer Information Reports, Microfinance Institution Credit Information Report and Equifax Alerts. To improve the data quality and thereby the quality of the credit information available, data enrichment and cleansing services are also on offer.
Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.
The MSME sector, the focused business domain for SIDBI, has been an important pillar of the Indian Economy, contributing up to 33% in the country’s Gross Value Added (GVA) as per FY 2014-15, with 51 million enterprises providing employment to over 117 million Indians. Over the years, SIDBI has been working towards the sustainable development of MSME sector, pioneering efforts that have manifested in creation of economic wealth, its distribution for an egalitarian society while preserving the ecological wealth of the country. These include the innovative Credit Plus model, where credit is supplemented with advisory and mentoring facilities to MSMEs. Some of SIDBI’s other revolutionary initiatives include the MFI-led Microfinance movement in India that has nurtured and strengthened more than 100 MFIs and facilitated creation of SFBs, introducing a culture of energy efficient and sustainable finance for the MSME sector, introducing Venture Capital, Risk Capital, Reverse Factoring and other innovative facilities that have been later adopted by various public and private players in the country.
Today, through a motivated and focussed approach towards resolving both financial and non-financial hurdles of the rising number of MSMEs, SIDBI has undertaken a series of structural initiatives and strategic interventions that will help make the MSME sector a strong and vibrant sector.
Supporting Association Partner
Maharashtra Industrial and Economic Development Association (MIEDA) is a leading organisation representing large number of members from manufacturing and service sector Industries viz. IT, Infrastructure, Finance, Power etc. Under the able guidance of Mr Chandrakant Salunkhe, MIEDA is working for the development of industry, improvement of infrastructure, business & export promotion, industrialisation in rural areas, Technology Transfers and Joint Ventures, SME and Entrepreneurship Development, Environmental Conservation, Tourism Promotion and other key sectors in Maharashtra. MIEDA's objective is to put forth efforts for achieving inclusive and sustainable growth of the State, and for this very reason, MIEDA carries out research & studies on various potential areas to improve the growth and industrial development and remove those bottlenecks in consultation with various organisations, Associations and Chambers of the State.
While conducting business and executing projects, Indian entrepreneurs are amongst the best in the world. The world over, the Indian entrepreneur has proved his mettle repeatedly in the toughest of situations; but somehow, the need to market oneself in the global scenario with ever changing rules and regulations takes its toll, and sometimes even the best of businesspersons have to rely on expert advice. Many an Indian entrepreneur would agree to the fact that it is quite challenging to manage, promote and market their businesses abroad. There needs to be some institution which would address their needs in a time bound and holistic manner. The SME Export Promotion Council is one such institution, which aims to represent Indian entrepreneurs in various countries wherein it helps the entrepreneurs to fulfill their business objectives through effective Branding and Marketing, Technology transfer and upgradation by arranging Joint Venture and International collaborations with foreign partners through the process of exhibitions, trade shows and B2B Meetings. The SME Export Promotion Council is the brainchild of Mr. Chandrakant Salunkhe. Known for his business acumen and sharp organisational skills, Mr Salunkhe has helped many an entrepreneur in successfully nurturing their businesses. An industry veteran well connected with top government officials and large corporate bodies (MNC) in India and abroad; credit certainly goes to him for laying the foundation of friendship and cordial relations between various countries..
Laghu Udyog Bharati
Laghu Udyog Bharati is a registered all India organization of Micro and Small Industries in India since 1994. Today, Laghu udyog Bharati has its membership spread over the length and breadth of the country. It has membership in more than 400 Districts with 250 Branches all over the Country. In a genuine effort to organise MSE sector Laghu Udyog Bharati is fighting the various ills plaguing the sector and to remove impediments coming in the way to MSEs.
Laghu Udyog or MSEs : The Scene
Worldwide , micro and small enterprises (MSEs) have been accepted as the engine of economic growth and for promoting equitable development. MSEs constitute over 95% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. It contributes more than 45% of total manufacturing production and 40% of exports, while employing 10 crores people, it suits the Indian conditions in the following manner:
- It is only source which has the potential to absorb about 10 million new youths which enter the workforce every year, as there are hardly any job opportunities in Government sector; the agriculture sector is already super saturated; and the large / corporate sector has had less employment growth in last 2 decades.
- For country like India which has very scarce capital, promoting MSE is essential as only one tenth of capital investment is required to generate one employment in MSE sector as compared to investment required per capita employment in large sector.
- It mitigates the problem of migration to cities and slum dwellings in urban areas.
- It also ensure inclusive growth.
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Launched 2008, SME WORLD (www.smeworld.asia) springs from the passion of dedicated media professionals to bridge the persisting information and Knowledge gap in the sector which plays a decisive role in the economic development everywhere. Today, SME WORLD is regarded as India’s best known knowledge and information magazine wholly dedicated to the development of SMEs sector.
SME WORLD is regularly partnering with organizations/institutions like CII, FICCI, ASSOCHAM, PHD Chamber of Commerce, IIMs, Birla Institutes, Global Economic Summits, leading B-schools etc. and the national and international MSMEs events. It is the first ever Indian small business magazine to penetrate into the industrial belts in tier II and tier III cities and the vast vistas of rural India. With an overall readership crossing about 250,000 mark, the magazine portal www.smeworld.asia is being viewed in over 120 countries at any given time (source google analytics).SME WORLD’s digital edition is available globally.
Website - www.smeworld.asia
Businessfortnight.com is a leading daily business news update website. It provide information, advice, news and ideas to help readers succeed. Ever since its inception in 2012 it has set new benchmark to business reporting. The website attracts over 3 lakh visitors every month.
Website - www.businessfortnight.com