About Small Industries Development Bank of India:
- It was set up by the Government of India under an act of the Parliament, as a wholly owned subsidiary of IDBI Bank.
- Mandate: It is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.
- Functions of Small Industries Development Bank of India:
- Offers direct loans and refinancing to banks and NBFCs.
- Promotes entrepreneurship and MSME growth
- Provides venture capital and technology support
- Financial support to MSMEs is provided by way of
- Indirect/refinance to banks/Financial Institutions for onward lending to MSMEs
- Direct finance in niche is as like risk capital, sustainable finance, receivable financing, service sector financing, etc.
- SIDBI was made responsible for administering the Small Industries Development Fund and the National Equity Fund that were administered by IDBI before.
- Major Stakeholders in SIDBI: Government of India (GOI), State Bank of India (SBI), LIC, and NABARD are among the major stakeholders in the SIDBI.
- Headquarters: Lucknow, Uttar Pradesh.
