27 January 2017

Small Industries Development Bank of India(SIDBI)

  • Small Industries Development Bank of India (SIDBI) was established on April 2, 1990.
  • The Small Industries Development Bank of India Act passed in 1989.
  • SIDBI was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
  • Now SIDBI is owned by several state-owned banks, insurance companies and financial institutions.
  • SIDBI is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises in India.
  • It is an apex body and nodal agency for formulating, coordination and monitoring the policies and programme for promotion and development of small scale industries.
  • SIDBI is in the list of top 30 Development Banks of the World in the latest ranking of The Banker, London.
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