IUKFP seeks MSME funding

Recommendations have been made on improving credit access for Micro, Small and Medium Enterprises (MSMEs) as well as Low Income Housing through guarantee schemes.

The recommendations were made in the paper by Co-Chairs of the India-UK Financial Partnership (IUKFP), Uday Kotak and Sir Gerry Grimstone. The paper was presented to Union Finance Minister Arun Jaitley.

They presented two most recent papers on ‘Financial Inclusion’ and ‘Responsible Shareholder Engagement – An Indian Stewardship Code’ on Nov 7, 2016 in New Delhi.

The paper on developing Responsible Shareholder Engagement focused on introducing an Indian Stewardship Code that will promote responsible capitalism through increased oversight on small investor savings.

The Co-Chairs also briefed the Finance Minister on the continued collaboration between practitioners and regulators in India and the UK as India implements the new Insolvency and Bankruptcy Code 2016.

The IUKFP was formed in July 2014 to increase collaboration between the financial sectors in India and the UK and provide policy inputs to both governments.

Since then, the IUKFP has been working closely with over 30 CEOs in India and a similar number in the UK as well as with key financial regulators in both countries.

The IUKFP had previously published five papers covering (1) Development of India’s Corporate Bond Market (2) India’s New Insolvency Regulations (3) Pensions (4) Infrastructure Funding and (5) Development of the Re-insurance Industry in India. fii-news.com