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Article: HSBC's factoring service launched in city.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- August 31, 2006
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HSBC's factoring service launched in city
Chennai, Aug 31 (PTI) Global banking and financial services major HSBC today announced the launch of its Factoring service in the city exclusively for small and medium enterprises (SMEs).
The products had already been launched a month ago in Mumbai, New Delhi, Kolkata, Pune and Bangalore.
Any SME, which shows consistent profit, has a turnover of Rs five crore and is not within RBI defaulters list, would be entitled for the Factoring, HSBC Senior Vice President and Head, Factoring, Bhriguraj Singh, told reporters here.
Indian SMEs are "strategically positioned to leverage the growth ...