The SIDBI was established as a wholly owned subsidiary of Industrial Development Bank of India (IDBI) under a special Act of the Parliament 1988 and started its operations on April 2, 1990. It took over the responsibility of administering Small Industries Development Fund and National Equity Fund which were earlier administered by IDBI. It is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities. It is managed by a team of 10 Board of Directors. The authorised capital of the Bank is Rs. 1000 crore and the Paid up capital is Rs. 531.92 crore as on 31.03.2019.
SIDBI provides direct, indirect and micro finance facilities.
Download as PDF
Read next article: Objectives and Functions of NABARD ››
Read previous article: « Industrial Development Bank of India (IDBI)
« Back to banking material page
July – 2020 Edition
June – 2020 Edition
May – 2020 Edition
April – 2020 Edition
March – 2020 Edition
February – 2020 Edition
January – 2020 Edition
December – 2019 Edition
Punjab Civil Services 2020