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PIA CONDUCTED MEETING WITH SRI.H.V RAGHURAM,ADDL DIR ,DIC AND INTERACTION MEETING WITH SRI.A.C SAHU ,GENERAL MANAGER-SIDIBI, PERTAINING TO VARIOUS SCHEMES OF SIDIBI FOR THE BENEFIT OF THE MEMBERS .
Small Industries Development Bank of India is playing a major role in helping development of small business grow. PIA held a meeting with the General Manager of SIDBI to help members understand the new schemes and how it can help them in their business.
The business domain of SIDBI consists of Micro, Small and Medium Enterprises (MSMEs), which contribute significantly to the national economy in terms of production, employment and exports. MSME sector is an important pillar of Indian economy as it contributes greatly to the growth of Indian economy. PIA have taken an initiative to help MSME grow and develop with the support of SIDBI.
The business strategy of SIDBI was discussed. How to address the financial and non-financial gaps in MSME eco-system were discussed . the different ways of Financial support provided by SIDBI to MSMEs like Indirect / refinance to banks / Financial Institutions for onward lending to MSMEs and direct finance in the niche areas like risk capital, sustainable finance, receivable financing, service sector financing, etc were explained to the participants.
Also how SIDBI helps promote and develop the MSME sector was explained. SIDBI adopts a ‘Credit Plus’ approach, under which, besides credit, SIDBI supports enterprise development, skill up-gradation, marketing support, cluster development, technology modernisation, etc., in the MSME sector through its promotional and developmental support to MSMEs.
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