What is the full form of SIDBI
SIDBI: Small Industries Development Bank of India
SIDBI stands for Small Industries Development Bank of India. It is an independent financial institution in India which is established for the growth and development of micro, small and medium-scale enterprises (MSMEs). It was set up on 2 April 1990 under the Indian Companies Act, 1956 as a wholly owned subsidiary of IDBI. As of October 2017, Mohammad Mustafa is the Chairman and Managing Director of SIDBI.
Its vision is to be a single platform to fulfill the financial and developmental needs of MSME sector to make it globally competitive, and to help it become a reputed and customer-friendly financial institution.
Its mission is to facilitate the credit flow to MSMEs and deal with financial and developmental gaps in the MSMEs.
SIDBI has adopted a 'Credit Plus' approach to promote and develop the MSME sector. Under this approach, besides credit, it also supports enterprise development, cluster development, skill up-gradation, marketing support and technology modernization etc. Its business domain includes Micro, Small and Medium Enterprises (MSMEs). These enterprises contribute significantly to the national economy in terms of production, export and employment.
Programmes & Initiatives