Objective and Function of SIDBI: This article focuses on the History, Role, Objective and Function of SIDBI You can also learn here the full form of SIDBI, History of SIDBI, and SIDBI definition. Here, I will also share the information about the role of SIDBI, objectives of the SIDBI and the SIDBI functions. If you want to know List of Total banks in India then you can click on given link to know more because I have already written an article on the List of banks in India. Let’s read the full article to get more information about the SIDBI. I have also written an article about the World Trade Organization(WTO).
Do you know, What is the full form of SIDBI?
SIDBI: Small Industrial Development Bank of India
Table of Contents
History of SIDBI:
The Indian Small Industries Development Act (SIDBI) was established on April 2, 1990, under an Act of premier financial institution for promotion, financing and development of the micro, small and medium enterprises (MSME) area and Coordination of the employees.
Established: 2nd April 1990
Chairman & Managing Director: click here
official website: www.sidbi.in
SIDBI act as Principal Financial Institution for Promotion, Financing, and Development of the Micro, Small and Medium Enterprise (MSME)
Who is the chairman and Managing Director of SIDBI?
Mohammad Mustafa (click here To get updated details of chairman and managing director of SIDBI.)
Here, I have discussed Chairman and managing director of SIDBI but till now I have not discussed headquarter of SIDBI but don’t worry I will tell you about headquarter of SIDBI.
Where is the headquarter of SIDBI?
Headquarter of SIDBI: Lucknow
Associates of SIDBI
- Credit Guarantee Fund Trust for Micro and Small Enterprises
- India SME Technology Services Ltd.
- SME Rating Agency of India Ltd.
- India SME Asset Reconstruction Company Ltd.
- Delhi Financial Corporation
SIDBI has several other activities:
- SIDBI Venture Capital Limited (SVCL) – for providing Venture Capital (VC) assistance to MSMEs
- Micro Units Development & Refinance Agency (MUDRA) – for ‘funding the unfunded’ microenterprises in the country
- Receivable Exchange of India Ltd. (RXIL) to enable the faster realization of receivables by MSMEs
- SMERA Ratings Limited (SMERA) – for the credit rating of MSMEs, renamed as Acute Ratings & Research Limited.
- India SME Technology Services Ltd (ISTSL) – for technology advisory and consultancy services
- India SME Asset Reconstruction Company Ltd. (ISARC) for speedier resolution of Non-Performing Assets (NPA) in the MSME sector.
There are four subsidiaries of SIDBI:
- Micro Units Development and Refinance Agency Bank
- SIDBI Trustee Company Limited
- India SME Asset Reconstruction Company Limited
- Acuité Ratings & Research Limited
Micro Units Development and Refinance Agency Bank
‘Micro Units Development and Refinance Agency Bank is a public sector financial institution in India. It provides loans at low-interest rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015
SIDBI Trustee Company Limited
Sidbi Trustee Company Limited is a Public incorporated on 19 July 1999. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Sidbi Trustee Company Limited’s Annual General Meeting (AGM) was last held on 13 August 2018 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2018.
India SME Asset Reconstruction Company Limited
ISARC is the country’s first ARC supported by a large number of public sector banks and undertakings. It will strive for speedier resolution of NPAs with a focus on the MSME sector.SIDBI, an Apex Financial Institution set up by an Act of Parliament in 1989, has been set-up with a mission to empower the Micro, Small and Medium Enterprises (MSME).
Acuité Ratings & Research Limited
Acuité is a Credit Rating and Research company. It is an institutionally promoted organization with a unique combination of country’s leading public & private sector banks along with a global data & analytics company as its shareholders.
Registered with the Securities and Exchange Board of India (SEBI) and accredited by Reserve Bank of India (RBI), Acuité has assigned more than 6000 credit ratings (as on June 30, 2018) to various securities, debt instruments and bank facilities of entities spread across industries in India.
List of Regional office of SIDBI:
There are 15 regional offices of SIDBI-
|Region||Name [S/Shri]||Designation||Jurisdiction – Offices and States||Contact Details|
|Ahmedabad||Praveen Kumar Agrawal||General Manager||Ahmedabad, Rajkot, Gandhidham, Baroda, Surat and XBOs – Gujarat||079-27541085|
|Bangalore||A C Sahu||General Manager||Bangalore, Hosur and XBOs – Karnataka, part of Tamil Nadu||080-67171501|
|Chandigarh||Anand Prakash Srivastava||General Manager||Chandigarh, Jammu, Ludhiana, Jalandhar, Shimla and XBO – J&K, Punjab, Himachal Pradesh||0172- 5000652|
|Chennai||V. Sridhar||General Manager||Chennai, Ambattur, Pudducherry – Part Tamil Nadu & Pudducherry||044-28413701|
|Coimbatore||Sanjay Jain||General Manager||Coimbatore, Kochi, Tirupur, Erode and XBOs – Kerala and Part Tamil Nadu||0422-2243896|
|Faridabad||Rishi Dwivedi||General Manager||Faridabad and Gurgaon – Haryana||0129-2412246|
|Guwahati||Sanjeev Gupta||Deputy General Manager||Guwahati, Aizawl, Agartala, Dimapur, Gangtok, Imphal, Itanagar, Shillong – All North Eastern States||0361-2529159|
|Hyderabad||G Sampath Kumar||General Manager||Hyderabad and Visakhapttanam with XBOs – Andhra Pradesh||040 -23230903|
|Indore||Anil Sharad Kulkarni||General Manager||Indore, Bhopal, Nagpur, Raipur and XBOs – Madhya Pradesh, Chhatisgarh & part of Maharashtra.||0731-2541191|
|Jaipur||Vivek Kumar Malhotra||General Manager||Jaipur, Jodhpur and XBOs – Rajasthan.||0141-5119422|
|Kolkatta||Kailash Chand Vaid||General Manager||Kolkata, Bhubaneshwar, Ranchi, Jamshedpur, Rourkela, Patna & XBOs – West Bengal, Bihar, Jharkhand and Odisha||033-22904165|
|Lucknow||Arup Kumar||General Manager||Lucknow, Kanpur, Varanasi and XBOs – Uttar Pradesh||0522-2288941|
|New Delhi||Sanjay Goyal||General Manager||New Delhi, NOIDA, Dehradun and XBOs – New Delhi, Uttarakhand and part of Uttar Pradesh.||011-23682473|
|Pune||T L Shanmuga Sundaram||General Manager||Andheri, Thane, Pune, Nashik, Aurangabad and XBOs – Maharashtra||022-67531284|