Wago
Wago

Do you want to advertise here? Contact us

Thriam
Thriam

Do you want to advertise here? Contact us

EFL: Driving economy by promoting MSMEs
.

EFL: Driving economy by promoting MSMEs

By March 13, 2018 4:18 pm IST

Electronica Finance Limited (EFL), a part of the SRP Electronica Group, is one of the most diversified finance companies in India. Started in 1990, EFL was amongst one of the first few in the country to be registered as a Non-Banking Finance Company (NBFC) to provide loans for machinery purchase. With 33 offices across India, EFL now caters to a large product portfolio including business loans, working capital loans and industrial property loans in addition to its flagship product of machinery loans. In an interview with OEM Update, EFL’s Managing Director Ms. Shilpa Pophale gives an overview of the MSME finance sector in India. Edited excerpts:

What are the challenges MSMEs face in terms of financing?
Micro, small, and medium-sized enterprises (MSMEs) have gained increased attention in India in the last decade or so considering their strategic importance to the economy and the country. MSMEs further play a crucial role in generating employment opportunities. In spite of their tremendous contribution to the manufacturing sector, MSMEs in India face several challenges for financial assistance during various phases of their business cycle. Due to the issues like squeeze of working capital, lack of formal data for assessment, and lack of collateral free financing, bigger banks or financial institutions are not giving priority to MSMEs which act as an obstruction to the growth of MSMEs. Also, at times, they pay higher interest rates as the sector is considered risky.

How do you look at the Budget proposal on MSME financing?
The 2018-19 Budget has given a big thrust to MSME sector to boost employment and economic growth. Initiatives like support through capital and interest subsidy, budgetary support for MUDRA scheme, increased focus and allocation for food processing MSMEs and guidelines on use of GST data for ease of financing are expected to give a boost to MSMEs. Though the fine prints of these proposals are not clear, it is expected that the initiatives will give due impetus on MSME financing.

What’s your commitment to the MSMEs?
Incorporated in the year 1990, Electronica Finance Ltd. (EFL) is a pioneer in machinery finance for MSMEs in India with a vision of “Building MSME, Driving Economy”. We have serviced more than 7,500 customers over the last 2 decades.

Advertising

OEM Android App

Your future advertising space? Our media data

Our MSME-centric business model has helped us to emerge as one of the leading NBFCs in this space with a pan-India presence.
Ms. Shilpa Pophale, Managing Director,
Electronica Finance Ltd.

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Tags: Speak Out
webinar
webinar

Do you want to advertise here? Contact us

TruCut
TruCut
DMTX
DMTX
OEM Update QR Code
OEM Update QR Code

Events

ChemProTech India 2025
ChemProTech India 2025
Aerodef India Manufacturing Expo
Aerodef India Manufacturing Expo
Blech India
Blech India
Intralogistic & Warehousing Expo
Intralogistic & Warehousing Expo
Wiretech 2025
Wiretech 2025
India Fastener Show
India Fastener Show
India Manufacturing Show
India Manufacturing Show
Factory Automation Expo 2025
Factory Automation Expo 2025

eMagazine April 2025

eMagazine April 2025
eMagazine April 2025

Do you want to advertise here? Contact us

Our Sponsors

Cloos
Cloos
B&R Automation
B&R Automation
Pragati Gears
Pragati Gears
Carl Zeiss India
Carl Zeiss India
Mallcom
Mallcom
igus
igus
DMG Mori India
DMG Mori India
Kennametal India Pvt Ltd
Kennametal India Pvt Ltd
Cumi
Cumi
Laser Science
Laser Science
Marvel Machinery
Marvel Machinery
Cube Cadtech
Cube Cadtech
Jk Machines
Jk Machines
Wago Pvt Ltd
Wago Pvt Ltd
Dosatron
Dosatron
ENS Oils & Lubricants
ENS Oils & Lubricants
Fagor Automation
Fagor Automation
Super Slides
Super Slides
Quality Spares Center
Quality Spares Center
Profectus
Profectus
Eplan
Eplan
Chicago Pneumatic Tools
Chicago Pneumatic Tools
MMC Hardmetal Pvt Ltd
MMC Hardmetal Pvt Ltd
Mennekes
Mennekes
TruCut
TruCut
MARPOSS
MARPOSS
phoenixcontact
phoenixcontact
Mitsubishi Materials
Mitsubishi Materials
Exor
Exor
Schmersal India
Schmersal India