Small Industries Development Bank of India(SIDBI)
in:
Banking-and-Financial-awareness
- Small Industries Development Bank of India (SIDBI) was established on April 2, 1990.
- The Small Industries Development Bank of India Act passed in 1989.
- SIDBI was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
- Now SIDBI is owned by several state-owned banks, insurance companies and financial institutions.
- SIDBI is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises in India.
- It is an apex body and nodal agency for formulating, coordination and monitoring the policies and programme for promotion and development of small scale industries.
- SIDBI is in the list of top 30 Development Banks of the World in the latest ranking of The Banker, London.
