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SIDBISmall Industries Development Bank of India
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The detailed assessment undertaken by SIDBI before clearing the funding goes to show the credibility of the company and the potential for growth possible by NPAsource.
In order to enable these banks to purvey credit to MSMEs, SIDBI is extending capacity building support to RRBs/ UCBs/ District Central Cooperative Banks (DCCBs) for handling Micro Enterprises loans (MEL) of MSMEs in West Bengal, Eastern and North Eastern India.
Total commitments under FFS by SIDBI are at INR 605.
SIDBI will provide 15 per cent of the total corpus, which will be mobilised by the start- ups through resources under IAF or fund of funds.
He expressed happiness that a program like PSIG has been initiated by SIDBI and DFID to address the issues of financial exclusion in the state.
SIDBI will be happy to provide corpus support to alternate investment funds, set up by Professional fund managers for the development and growth of SMEs.
The allotment to SIDBI for refinancing incremental lending by banks to these enterprises has been raised from Rs.
SIDBI was established on April 2, 1990, under the SIDBI Act, 1989, as the apex financial institution for the promotion, financing and development of the SSI (small scale industries) sector.
At the SIDBI function Mukherjee expressed confidence that the measures announced in the budget for 2010- 11 would revive private investment and put the economy back on a nine per cent growth trajectory.
10 -- The Franchising Association of India ( FAI) the only professionally run and Internationally Recognized Association of all Franchising related interests in India signed an MOU with Small Industries Development Bank of India (SIDBI) on Thursday,10th January 2013 to help the process for grant of loans By SIDBI to new and existing entrepreneurs in Franchising.
SIDBI was established in April 1990 as the principal financial institution for promotion, financing, development of industry in the small scale sector and coordinating the functions of other institutions engaged in similar activities.