Money & Banking

SIDBI keen on digital platforms for MSMEs

Our Bureau Hyderabad | Updated on December 23, 2019

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs), is keen on working together with State Governments.

This was stated by Mohammad Mustafa, Chairman and Managing Director, SIDBI at an outreach programme for strengthening MSME ecosystem orgsnised by SIDBI here in collaboration with Development Commissioner, MSME and Telangana Government.

``The outreach initiative is a part of our SIDBI Vision 2.0 under which Mission Swavalamban. The prime objective of the initiative is to gauge the expectation of MSME stakeholders,’’ he said.

The main objective of the outreach programme was collaborating with the state government and other stakeholders for taking up further activities for the benefit of MSMEs and knowledge dissemination on digital platforms.

SIDBI is keen on gauging the expectation of MSME stakeholders, identify the good practices of the the state and suggest State-specific schemes. ``We expect greater participation by MSMEs in these programmes and urge them to make best use of these initiatives,’’ Mustafa said.

The outreach by SIDBI was based on recommendation of the expert committee on MSMEs headed by U.K. Sinha, former chairman of Securities and Exchange Board of India (SEBI), for SIDBI to collaborate with State Governments to get MSME units boarded onto digital platforms such as PSBloansIn59minutes, e-commerce platforms, listing on stock exchanges, etc.

Published on December 23, 2019

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