Small Industries Development Bank Of India (SIDBI)
SIDBI was set up on April 2, 1990 as a wholly owned subsidiary of IDBI. It is operating through its Head Office at Lucknow and a network of 5 Regional Offices and 25 Branch Offices in all the states. It is an apex institution for promotion, financing and development of industries in small scale sector and co-ordination of functions of other institutions engaged in similar activities.
Functions of SIDBI
1) Taking steps for technological upgradation and modernization of existing units.
2) Providing services like factoring, leasing etc. to industrial concerns in the small scale sector.
3) Extending financial support to National Small Industries Corporation for providing leasing hirepurchase and marketing support to SSI units.
4) Expanding the channels for marketing the products of SSI sector in domestic and international markets.
5) Promoting employment oriented industries especially in semi-urban areas to create more employment opportunities and thereby checking migration of people to urban areas.
6) Refinancing of loans and advances extended by the primary lending institutions to industrial concerns in the small scale sector and also providing resource support to them.
It also offers bills discounting and rediscounting facilities. It also has a few schemes of direct assistance.
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1. What is the role of Small Industries Development Bank of India (SIDBI) in promoting entrepreneurship and small businesses? |
2. How can entrepreneurs benefit from SIDBI's services? |
3. What are the eligibility criteria for availing SIDBI's financial assistance? |
4. Does SIDBI provide support exclusively to small businesses or can startups also benefit from their services? |
5. How can entrepreneurs apply for financial assistance from SIDBI? |
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