SIDBI signs MoU with auto parts manufacturers assn
Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with Jalandhar Auto Parts Manufacturers Association (JAMA) to facilitate easier access to credit for its members.
This is the first ever initiative by SIDBI in Punjab. JAMA is one of the most active and prominent associations in Punjab. The MoU was signed by Balram Kapoor, Chairman of JAMA and Charu Verma, branch manager, SIDBI, in the presence of Balbir Vaid, General Manager, SIDBI.
“We have entered into a strategic MoU with SIDBI to enhance the financial strength of Micro, Small and Medium Enterprises (MSMEs) in the auto parts manufacturing industry. This collaboration aims to support JAMA member manufacturers, many of whom are MSMEs, by providing streamlined credit and loan services,” said Kapoor.
An expert from SIDBI will be available at JAMA office at JMP Industries, Focal Point, Jalandhar, to assist members with both capital and working capital requirements.
Sanjeev Juneja, president of JAMA, said that members, particularly MSMEs, will benefit from easier access to credit, customised loan offerings and financial products designed to meet their unique requirements.
