Small Industries Development Bank of India 1
Small Industries Development Bank of IndiaSmall Industries
Development Bank of India is a non-independent financial
institution aimed to aid the growthand development of micro, small
and medium-scale enterprises (MSME) in India. Set up on April 2,
1990 through anact of parliament, it was incorporated initially as
a wholly owned subsidiary of Industrial Development Bank ofIndia.
Current shareholding is widely spread among various state-owned
banks, insurance companies and
financialinstitutions.Wikipedia:Citation needed Beginning as a
refinancing agency to banks and state level financialinstitutions
for their credit to small industries, it has expanded its
activities, including direct credit to the SMEthrough 100 branches
in all major industrial clusters in India.Wikipedia:Citation needed
Besides, it has been playingthe developmnt role in several ways
such as support to micro-finance institutions for capacity building
andonlending. Recently it has opened seven branches christened as
Micro Finance branches, aimed especially atdispensing loans up to 5
lakh.Wikipedia:Citation neededIt is the Principal Financial
Institution for the Promotion, Financing and Development of the
Micro, Small andMedium Enterprise (MSME) sector and for
Co-ordination of the functions of the institutions engaged in
similaractivities.SIDBI has also floated several other entities for
related activities. Credit Guarantee Fund Trust for Micro andSmall
Enterprises ([1]) provides guarantees to banks for collateral-free
loans extended to SME. SIDBI VentureCapital Ltd.([2]) is a venture
capital company focussed at SME. SME Rating Agency of India Ltd.
(SMERA - [3])provides composite ratings to SME. Another entity
founded by SIDBI is ISARC - India SME Asset ReconstructionCompany
in 2009, as specialized entities for NPA resolution for SME.
SIDBIThe purpose is to provide refinance facilities and short
term lending to industries.Wikipedia:Citation needed
Itsheadquarters is in Lucknow. Chairman & Managing Director is
Sushil Muhnot.
AchievementsSIDBI retained its position in the top 30
Development Banks of the World in the latest ranking of The
Banker,London. As per the May 2001 issue of The Banker, London,
SIDBI ranked 25th both in terms of Capital andAssets.[updation
needed]Credit Guarantee Fund Trust for Micro and Small Enterprises
popularly known as CGTMSE is widely being used bymany PSU Banks and
Private sector banks to fund MSME sector. During the year 2002-03
the aggregate sanctionand disbursements of SIDBI amounted to 10,904
crore and 6,789 crore respectively. SIDBI has been permitted
toraise finances up to 2,730 crore the year 2013 onward by the
Reserve Bank of India. Mission "To facilitate andstrengthen credit
flow to MSMEs and address both financial and developmental gaps in
the MSME eco-system" Vision To emerge as a single window for
meeting the financial and developmental needs of the MSME sector
tomake it strong, vibrant and globally competitive, to position
SIDBI Brand as the preferred and customer - friendlyinstitution and
for enhancement of share - holder wealth and highest corporate
values through modern technologyplatform
Article Sources and Contributors 3
Article Sources and ContributorsSmall Industries Development
Bank of India Source:
http://en.wikipedia.org/w/index.php?oldid=623705978 Contributors:
Amitkusi, Ask.jigsaw, Bearcat, Bharatjain86, Borkificator,
CAAnimesh, ChamithN, Compfreak7, Cyberoidx, DVdm, DemocraticLuntz,
Devendra490, Dylan620, Gautam124, Geraldshields11, Gioto, Grafen,
Hut 8.5, JHunterJ, Katharineamy, Krtalluri71,KuwarOnline, LilHelpa,
Luckas Blade, Malcolma, Markhurd, Mayurai, Mild Bill Hiccup,
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