Full Form Of SIDBI | SIDBI Full Form | Full Form Of SIDBI Bank:- Small Industries Development Bank of India.
SIDBI (Small Industries Development Bank of India) is an independent financial institution for promotion, financing, and development of industries in micro, small and medium-scale enterprises in India.
Full Form Of SIDBI | SIDBI Full Form | Full Form Of SIDBI Bank
SIDBI (Small Industries Development Bank of India) is a development financial institution in India, head office at Lucknow and having its offices all over India. SIDBI’s aim is to provide refinance facilities and small term lending to industries and serves as the principal financial institution in the Micro, Small and Medium Enterprises (MSME) sector. SIDBI operates under the Department of Financial Services, Govt of India.
SIDBI is one of the 4 All India Financial Institutions regulated and supervised by the Reserve Bank; the other three are EXIM Bank, NABARD and NHB. They play a profitable role in the financial markets through credit extension and refinancing operation activities and cater to the long-term financing needs of the industrial sector.
SIDBI’s promotion & development program focuses on rural enterprises promotion and entrepreneurship development.
In order to increase and support money supply to the MSE sector, SIDBI operates a refinance program known as Institutional Finance program. Under this program, SIDBI extends Term Loan assistance to Banks, Small Finance Banks, and Non-Banking Financial Companies. Besides the refinancing operations, SIDBI also lends directly to MSMEs.
SBI is the largest individual shareholder of SIDBI with holding of 16.73% shares, followed by Government of India and Life Insurance Corporation of India.
SIDBI is a part of the non-financial intervention in the MSME sector, SIDBI had also undertaken various measures in the past. Recently, in association with credit rating agency CRISIL and Credit Information Company TransUnion CIBIL, it has introduced “CriSidEx” and “MSME Pulse”.
SIDBI has launched the ‘Udyami Mitra’ Portal to improve the accessibility of credit and handholding services to MSMEs. They can select and apply for preferred banks through ‘Udyami Mitra’ Portal. Under the ‘Udyami Mitra’ Portal, entrepreneurs can apply for a loan without physically visiting any bank branches and can select from over one lakh bank branches, track their application status and avail multiple loan benefits. It also has a facility for uploading all important documents. Through the ‘Udyami Mitra’ Portal, the MSMEs can also seek handholding support for getting finance. Laghu Udyog
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