Full Form of SIDBI : Small Industrial Development Bank of India

What is the full form of SIDBI?

No:1. The full form of SIDBI is the Small Industrial Development Bank of India.
No:2. SIDBI is an Indian development financial institution, with its headquarter is located in Lucknow and branches throughout the nation.
No:3. Its aim is to provide the industry with refinancing opportunities and short-term financing and to function as the main financial institution in the MSME (Micro, Small and Medium Enterprises) industry.
No:4. The roles of organizations engaging in related activities are coordinated by SIDBI as well.
No:5. It was create by an Act of Parliament on 2 April 1990.
No:6. It has its head office in Lucknow.
No:7. SIDBI works under the government of India’s Department of Financial Services.

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Important pieces of information about SIDBI

No:1. SIDBI is one of the four RBI governed and monitored by All India banking institutions.
No:2. The other three are IEB (India Exim Bank), NABARD & NHB.
No:3. But lately, by taking more than 51% of the share, NHB has come under government control.
No:4. Via credit extensions & refinancing operations, they perform a statutory role in the financial sector and respond to the long-term financing requirements of the industrial sector.
No:5. Via the SIDBI Foundation for Micro Credit, SIDBI is involved in the growth of microfinance banks and helps to expand microfinance via the MFI (Micro Finance Institution) pathway.
No:6. Its support & growth program involves the promotion of rural companies and the development of the economy.
No:7. It runs a refinancing program known as the Institutional Finance Program to increase and sustain the supply of capital to the MSE market.
No:8. SIDBI provides Term Loan assistance to banks, small finance banks & non-banking financial companies under this scheme.
No:9. In addition to refinancing activities, SIDBI also loans to MSMEs directly.

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