SIDBI Full Form: What Does SIDBI Stand For?
Do you want to know what is full form of SIDBI is? Then, here you will come to know what Does SIDBI stand for? Also all possible Full Form of SIDBI.
SIDBI Full Form
The term SIDBI has many full forms, but out of which most relevant full form is-
SIDBI Full Form is – Small Industrial Development Bank of India
SIDBI is a bank that provides business loans to micro, small, and medium (MSME) business people.
The headquarter of SIDBI Bank is in Lucknow, the capital of Uttar Pradesh.
SIDBI In fact, a particular bank was created to provide financial assistance and loans to small-scale industries named SIDBI Bank.
The main objective of SIDBI is to provide a strong economic base to the industries of the country. In addition, SIDBI assists Micro, Small and Medium Enterprises.
SIDBI is the Small Industrial Development Bank of India! It started as an industrial bank. It provides financial loans to Regional Rural Banks based on Industrial Financial Corporations.
The scope of business of SIDBI is MSME (Micro Small & Medium Enterprises), which is also considered a strong pillar of India’s economy! SIDBI has been working for MSMEs for a very long time!
MSMEs have also got many economic benefits due to the efforts of SIDBI! This is because SIDBI has been giving its service for building an egalitarian society for many years!
What is SIDBI?
SIDBI is a financial bank that provides loans to industries working under MSME! It also offers other financial facilities!
Which bank is the shareholder of SIDBI – SBI (State Bank of India) is the largest individual shareholder of SIDBI. State Bank of India holds 16% shares of SIDBI.
This also includes the Government of India and the Life Insurance Corporation! According to London’s Rating Company “The Banking” rating, SIDBI is ranked 30th in the world! So what is the work of SIDBI?
Works under SIDBI Credit Plus Modal! It provides loans for industrial development. Along with this, SIDBI also provides consultancy and other mutual facilitation, financial facility to MSMEs. The main function of SIDBI is to increase the money supply in the MSME sector and conduct a well-planned program to support it.
What is the scope of business of SIDBI?
Many small-scale industries are involved in the business of SIDBI. Small and medium enterprises whose value does not exceed ten crores! About 60 lakh such units across the country and 3 crore people have got employment in them!
About 38 percent of exports and about 40 percent of manufacturing are done in India under SIDBI. In addition, SIDBI provides many jobs from time to time for tourism, health services, transportation and social work across the country.
What is the main function of SIDBI?
The main task of SIDBI is to provide financial assistance to micro and small industries in the country and establish medium industries with small scale industries, provide financing, provide financial help for the development of enterprises, etc.
SIDBI provides financial support for Supplemental Security Income (SSI) and other service areas. It gives loans through banks, NBFCs, SFCs and other finance institutions SIDBI aims to balance the finance sector by providing loans and promoting skill development Products offered by SIDBI.
What are the Products offered by SIDBI?
SIDBI mainly gives six types of loans under Direct Loan, which are discussed below:
Under Direct Loan, there are six main loan schemes,
SIDBI Make in India Soft Loan Fund for Micro Small and Medium Enterprises (SMILE)
Smile Equipment Finance (SEF)
Loan under a partnership with OEM
WorkingCapital (Cash Credit)
SIDBI Trader Finance Scheme (STFS) and
Loan for Purchase of Equipment/Machinery for Enterprise Development (SPEED)
What Does SIDBI Stand For?
SIDBI stands for – Small Industrial Development Bank of India
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