- April 20, 2021
- Posted by: admin1
- Category: DPN Topics
Subject : National Organisations
Context: Sivasubramanian Ramann from Tamil Nadu has taken charge as the Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI).
- It is a statutory body which was set up on 2nd April 1990 under an Act of Indian Parliament.
- It acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities
- Its mission is to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system.
- It is one of the four All India Financial Institutions regulated and supervised by the Reserve Bank of India.