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Small Industries Development Bank Of India (SIDBI) - Entrepreneurship & Small Businesses | Entrepreneurship & Small Businesses - B Com PDF Download

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.

The document Small Industries Development Bank Of India (SIDBI) - Entrepreneurship & Small Businesses | Entrepreneurship & Small Businesses - B Com is a part of the B Com Course Entrepreneurship & Small Businesses.
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FAQs on Small Industries Development Bank Of India (SIDBI) - Entrepreneurship & Small Businesses - Entrepreneurship & Small Businesses - B Com

1. What is the role of Small Industries Development Bank of India (SIDBI) in promoting entrepreneurship and small businesses?
Ans. SIDBI plays a crucial role in promoting entrepreneurship and small businesses in India. It provides various financial and non-financial assistance to small businesses, including loans, credit facilities, and venture capital. SIDBI also offers training programs, mentorship, and advisory services to help entrepreneurs develop their business skills and knowledge.
2. How can entrepreneurs benefit from SIDBI's services?
Ans. Entrepreneurs can benefit from SIDBI's services in multiple ways. They can access loans and credit facilities at favorable interest rates, which can help them meet their working capital and expansion needs. SIDBI also offers technical assistance, market research, and business development support, which can enhance entrepreneurs' capabilities and help them grow their businesses.
3. What are the eligibility criteria for availing SIDBI's financial assistance?
Ans. The eligibility criteria for availing financial assistance from SIDBI may vary based on the specific scheme or program. Generally, entrepreneurs need to meet criteria such as the nature of the business, creditworthiness, repayment capacity, and compliance with regulatory requirements. It is advisable to visit SIDBI's official website or contact their nearest branch for detailed information on eligibility criteria.
4. Does SIDBI provide support exclusively to small businesses or can startups also benefit from their services?
Ans. While SIDBI primarily focuses on supporting and promoting small businesses, it also extends its services to startups. Startups can avail of SIDBI's financial assistance, mentoring, and advisory services to accelerate their growth and scale their operations. SIDBI has various schemes and programs specifically designed for startups, catering to their unique needs and requirements.
5. How can entrepreneurs apply for financial assistance from SIDBI?
Ans. Entrepreneurs can apply for financial assistance from SIDBI by visiting their official website or contacting their nearest branch. They need to fill out the necessary application forms, provide the required documents, and submit a detailed business proposal. SIDBI's officials will evaluate the application and, if approved, provide the necessary support and assistance to the entrepreneurs.
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