In 2013-14, Small Industries Development Bank of India (SIDBI) plans to issue bonds and other instruments with a cumulative worth of Rs 13,500 crore to expand its business operation, agency reports indicate.
The development bank would issue various instruments including bonds, Certificate of Deposits (CDs) and fixed deposits to raise the amount.
The net profit of the bank rose 47.7 per cent to Rs 837 crore in 2012-13 from Rs 567 crore in the previous financial year. The total gross income of the bank grew to Rs 5,401 crore for 2012-13, from Rs 4,607 crore in 2011-12.
During 2012-13, the bank witnessed 45 per cent growth in its specialised finance products to Rs 9,155 crore from Rs 6,321 crore in the previous year.
Specialised financing includes venture capital, loans for improving energy efficiency and implementing cleaner production technologies, loans to the service sector, receivable financing or factoring.
In order to provide comprehensive information about micro finance players in the country, SIDBI launched a portal named India Microfinance Platform.
The platform launched with World Bank assistance has data about each and every micro finance firm working right up to district level, SIDBI Chairman and Managing Director Sushil Muhnot said after launching the website.