Small Industries Development Bank of India (SIDBI)

by Sonam Singh 27-Feb-19

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SIDBI (Small Industries Development Bank of India) is a development financial institution in India. It is headquartered in lucknow and having offices across the country. SIDBI is supervised by The Reserve Bank of India and is active in the development of micro finance institutions through SIDBI foundation for micro credits. It basically focuses on rural enterprises promotions and development. Shri Mohammad Mustafa is the current chairman & managing director of SIDBI.


History:

SIDBI has been set up on April 02, 1990 under an act of indian parliament. It's a financial institution for micro, small & medium enterprises (MSME). SIDBI's initiatives have remained aligned to the national goals of poverty alleviation, employment generation and kindling entrepreneurship in MSME sector.  Milestones in SIDBI's historical journey are as follows:

a) 1990 - Founded

b) 1994 - Foundation of microfinance laid

c) 1995 - Technology bureau for small enterprise (TBSE) setup which converted into India SME technology services.

d) 1999 - SIDBI venture capital limited

e) 2000 - Credit guarantee fund trust for micro & small enterprise

f) 2005 - SMERA ratings ltd.

g) 2008 - India SME asset reconstruction company ltd. (ISARC)

h) 2015 - Setup MUDRA

i) 2016 - Trade receivables discounting system (TReDS) www.udyamimitra.in & www.standupmitra.in

j) 2017 - Launched certified credit counsellor (CCC)

k) 2018 - Launch MSME pulse and CriSidEx


Objectives of SIDBI:

a) To promote marketing of products of small scale sector.

b) To encourage employment oriented industries.

c) To upgrade technology and promoting modernization of small scale units.

d) To provide financial assistance to small scale industries.

e) To coordinate all the other institutions involved in the promotion of small scale industries.


Products & 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 shares. SIDBI's other services are:

a) Refinance to small scale industries (SSI)

b) It offers assistance to import and export in SSIs.

c) It provides seed capital and soft loan assistance to SSI.

d) SIDBI helps in factoring, leasing and HP finances etc.


Vision:

SIDBI's vision is to emerge as a single window for meeting the financial and development needs of the MSME sector to make it strong, vibrant and globally competitive. To position SIDBI brand as the preferred and customer - friendly institution and for enhancement of shareholder's wealth and highest corporate values through modern technology platform.


For more information about SIDBI Bank - Click here


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