Basant Seth

Small Industries Development Bank of India acts as the principal financial institution for promotion, financing and development of the micro, small and medium enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities. The company was founded on April 2, 1990 and is headquartered in Lucknow, India.

Syndicate Bank Ltd. engages in the provision of banking services. It operates through the following business segments: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It offers marketing and fee income products, bancassurance, mutual funds, cash management services, and capital market services. The company was founded by Upendra Ananth Pai, Vaman Kudva, and Tonse Madhav Ananth Pai in 1925 and is headquartered in Manipal, India.

Dharampal Satyapal Ltd. operates as a multi-diversified conglomerate. Its businesses include tobacco, food and beverage, confectionary, dairy, mouth fresheners, hospitality, tobacco, packaging and agri business. The company was founded by Dharampal Sugandhi and Satyapal Sugandhi in 1929 and is headquartered in Noida, India.

Canbank Factors Ltd. is a subsidiary of Canara Bank, controlled by the Government of India. The private company is based in Bangalore, India and was founded in 1991. The Indian company provides cash flow solutions for MSMEs through sale bill factoring, LC discounting, purchase bill discounting, and vendor financing schemes. The company offers quick response and better pricing for their client-friendly products. Factoring is the discounting of receivables, converting credit sales into cash sales immediately. The company purchases receivables on a recourse basis and provides immediate credits up to 80%% to 90%% of the value of invoices. The benefits of factoring include improving turnover, better credit management, improving profit, and making balance sheets healthier. Canbank Factors provides complementary WC limits availed from banks, follow-up of each invoice by factor and collection of dues, and off-balance-sheet finance.