ICICI teams up with IFC and IBM to SME toolkit

Mumbai, Aug 7 (UNI) India's largest private sector Bank, ICICI in association with International Finance Corporation (IFC) and IT major IBM today launched an online information resource center called 'SME toolkit' for the Small and Medium Enterprises (SME) in the country.

The Bank today said the toolkit will enable SMEs to get updated information regarding their business enhancement as well as necesary tools that will help them in improving their access to capital an new markets.

It said the online module of the kit has been launched in 24 countries in 13 languages worldwide and the module will be available in Hindi and English in India initialy. SMEs can either access the facility online through the ICICI web-portal or in the form of CDs.

Speaking to mediapersons here ICICI Executive Director V Vaidyanathan said, ''We are bringing together on a single platform the tools, a network and the power expression for SMEs to develop a compelete ecosystem for them.'' The SME toolkit contains information and tools to address accounting and finance, business planning, human resources, legal and insurance, marketing and sales, operations, technology, business news and tenders informations, Mr Vaidyanathan said.

On being asked about the Bank's move over the recent quarterly review of Credit Policy of the Reserve Bank, he said, ''The bank has decided not to bring any change in the lending rates in the recent future, rather it may cut down the deposit rates.'' The retail business of the Bank has reported a growth of 20 per cent during the previous fisical, assets quality in retail are productive and loss rates are low and stable, he added.

UNI