SIDBI stands as the principal financial institution serving the MSME sector

Small Industries Development Bank of India (SIDBI)  

Head of the organization 
Mohammad Mustafa (Chairman & MD)   

Website 
https://sidbi.in/en

SIDBI was established to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the Micro, Small and Medium Enterprises (MSME) eco-system. It thus serves as the principal financial institution in the MSME sector.

A web portal www.psbloansin59minutes.com, was launched as a transformative initiative in the MSME credit space. This will enable in principle approval for MSME loans up to Rs. 1 crore within 59 minutes from SIDBI and 5 Public Sector Banks (PSBs).

SIDBI Vision 2.0 is another strategic initiative by SIDBI that is aimed at further accelerating the effort of MSME credit by transforming its current role to that of an All India Financial Institution that can create an integrated credit and development support ecosystem for Indian MSEs, thus promoting their inclusive growth. SIDBI has also revamped its portal www.udyamimitra.in with enhanced features to provide easy access to credit and hand-holding services for micro small medium enterprises (MSME).