July 11, 2023
govt information
Small Industries Development Bank of India (SIDBI) is a financial institution in India that was established on April 2, 1990, under an Act of Parliament. It operates as a wholly-owned subsidiary of the Industrial Development Bank of India (IDBI) and is headquartered in Lucknow, Uttar Pradesh.
SIDBI's primary objective is to promote, finance, and develop small-scale industries (SSIs) in the country. It plays a crucial role in the growth and development of the small and medium enterprise (SME) sector, which is considered the backbone of the Indian economy. SIDBI focuses on providing financial assistance, including both debt and equity, to MSMEs (Micro, Small, and Medium Enterprises) across various sectors.
