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Small Industries Development Bank of India (SIDBI) has entered into a Memorandum of Understanding with the Maharashtra Government to develop the micro, small and medium enterprise (MSME) ecosystem in the state.
Under the agreement, a Project Management Unit (PMU) will be deployed by SIDBI with the Government of Maharashtra, SIDBI said in a statement.
The role of the PMU will be to design schemes/programmes in the areas of equity support, interest subvention, resolution of stressed MSMEs, supporting MSME entrepreneurs and facilitate other need-based intervention based on evaluation of the existing status of MSMEs, it added.
V Satya Venkata Rao, Deputy Managing Director, SIDBI said: “We have appointed an expert agency for setting up PMUs in 11 states... Imbibing good practices, rejuvenating existing programmes and policies, and enabling more responsive ecosystem shall be the target of our joining of hands.”
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