SIDBI Full Form || Small Industries Development Bank of India

SIDBI Full Form - Small Industries Development Bank of India

by Devender

0 4064

What is the full form of SIDBI?

The full form of SIDBI is Small Industries Development Bank of India.

It is an independent financial institution in India which is established with an aim to provide sustainable growth and development for the MSMEs (Micro, Small and Medium Scale Enterprises).

SIDBI Full Form

Its headquarter is located in Lucknow, Uttar Pradesh and Shri Sivasubramanian Ramann is the Chairman and M.D. of the bank as of January 2022. SIDBI is one of the 4 All India Financial Institutions that are regulated and supervised by the RBI (Reserve Bank of India).


SIDBI History

SIDBI was set up as a wholly-owned subsidiary of IDBI on 2 April 1990 under the Indian Companies Act, 1956. SIDBI's initiatives have remained aligned to the national goals of poverty alleviation, employment generation and kindling entrepreneurship in the MSME sector.

Here is the brief history of SIDBI from 1990:

1990
Founded
1994
The Foundation of microfinance laid
1995
Technology bureau for small enterprise (TBSE) setup which converted into India SME technology services
1999
SIDBI venture capital limited
2000
Credit guarantee fund trust for micro and small enterprise
2005
SMERA ratings Ltd.
2008
India SME asset reconstruction company ltd. (ISARC)
2015
Setup MUDRA
2016
Trade receivables discounting system (TReDS) www.udyamimitra.in and www.standupmitra.in
2017
Launched certified credit counsellor (CCC)
2018
Launch MSME pulse and CriSidEx

SIDBI Objectives

These are the main objectives of SIDBI:

  • To promote marketing of products of small scale sector
  • To encourage employment-oriented industries
  • To upgrade technology and promote modernization of small scale units
  • To provide financial assistance to small scale industries
  • To coordinate all the other institutions involved in the promotion of small scale industries

SIDBI Products and Services

SIDBI coordinates and finances the various institutions involved in the development of small industries. To support money supply, SIDBI operates a refinance program, in which it extends term loan assistance to banks, small finance banks and non-banking financial companies.

State Bank of India holds SIDBI's 16.73 % share which is the largest individual share. Other services offered by SIDBI are as follow:

1 Refinance to small scale industries (SSI)

2 Offering assistance to import and export in SSIs

3 Providing seed capital and soft loan assistance to SSI

4 Helps in factoring, leasing, HP finances, etc.


SIDBI Vision and Mission

The vision and mission of SIDBI are as follow:

Vision

To become a single platform that fulfils all the developmental and financial needs of the MSMEs, making it globally competitive.

Mission

To deal with the financial and developmental gaps in MSMEs and to provide the credit flow.



Best WordPress Hosting


Share:

SSL for business, from $12.88


Discount Coupons

Get a .COM for just $6.98

Secure Domain for a Mini Price



Leave a Reply


Comments
    Waiting for your comments