The sidbi full form is Small Industries Development Bank, The Small Industries Development Bank of India (SIDBI) is India’s apex bank for micro, small, and medium-sized business funding, promotion, and development. It is governed by the Ministry of Finance of the Government of India, which is based in Lucknow and has offices around the country. Its mission is to provide refinancing services to banks and financial institutions, as well as term loans and working capital financing to businesses, and it is the MSME sector’s primary financial institution.
S = Small
I = Industries
D = Development
B = Bank
SIDBI also manages the functioning of organizations that do similar tasks. It was formed by an Act of Parliament on April 2, 1990. Lucknow is the company’s headquarters. SIDBI is part of the Government of India’s Ministry of Finance.
India Exim Bank, NABARD, and NHB are the other three All India Financial Institutions controlled and supervised by the Reserve Bank of India. NHB, on the other hand, was recently taken over by the government, with the government owning more than 51 percent of the company. They serve the industrial sector’s long-term financing needs by playing a statutory role in the financial markets through credit extension and refinancing operations.
Through the SIDBI Foundation for Micro Credit, SIDBI is actively involved in the creation of Micro Finance Institutions and assists in the extension of microfinance through the Micro Finance Institution (MFI) method. Its promotion and development program focuses on promoting rural businesses and fostering entrepreneurship.