New Delhi: Tata Capital today said it has signed a pact with industry body CII to provide easy credit to small and medium businesses.
"Tata Capital, the financial services arm of the Tata Group, signed a MoU with Confederation of Indian Industry (CII) to partner with them in the SME Finance Facilitation Centre initiative," Tata Capital said in a release.
The initiative has been launched to facilitate easier credit access to Small and Medium Enterprises (SME). It will help boost SMEs via better access to finance and a suite of services, the company said.
"SMEs are an important pillar of the Indian economy, contributing 38 per cent to the national GDP. We, at Tata Capital are determined to play a significant role in supporting the growth of the sector by extending our vast array of products which cater to the specific needs of the SMEs," said
Pradeep Bandivadekar, Chief Operating Officer, Corporate Finance Division, Tata Capital.