Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs, launched the initiatives as Manoj Mittal, Chairman and Managing Director, SIDBI, said the focus is on credit access, digital delivery and rural enterprise modernisation.
SIDBI marked its 37th Foundation Day in Mumbai with the launch of several new initiatives aimed at improving MSME access to loans, machinery support and rural enterprise development.
Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs, launched the SIDBI RRB Co Lending Portal, SIDBI MachFin Mart, MoRE, Modernisation of Rural Enterprises, and the Credit Cards for Micro Enterprises programme of the Department of Financial Services, Government of India. She also outlined SIDBI’s role as a market maker, especially in the context of the Government of India’s capital infusion of Rs. 5000 crore.
The SIDBI RRB Co Lending Portal will help SIDBI partner with Regional Rural Banks to improve loan access for MSMEs in rural and underserved areas.
SIDBI MachFin Mart is a digital platform designed to help MSMEs buy machinery through an organised marketplace. It is expected to support price discovery, standardisation, technology adoption and embedded loan sanction.
MoRE, Modernisation of Rural Enterprises, is aimed at supporting 10000 rural micro and artisanal units over the next three years through cluster based interventions in rural and artisanal clusters.
The Credit Cards for Micro Enterprises programme, launched by the Department of Financial Services, Government of India, is designed to provide faster access to working capital finance. The cards will have a limit of Rs. 5 lakh for Udyam registered micro enterprises.
Shri Sanjay Lohiya, Special Secretary, Department of Financial Services, acknowledged SIDBI’s contribution in building credibility across the financial sector. He said DFS looks forward to SIDBI continuing its proactive role in strengthening MSME finance and supporting India’s development objectives. He added that SIDBI’s future role is not only that of a financier, but also of an institution that sets benchmarks, builds confidence and strengthens the architecture of MSME finance.
Shri Manoj Mittal, Chairman and Managing Director, SIDBI, said the initiatives mark an important step in SIDBI’s efforts to transform MSME financing through digital enablement and partnerships. He said the focus is on improving credit access, credit delivery efficiency and technology adoption through digital platforms and collaborative partnerships.
He added that SIDBI’s approach also includes modernisation of rural enterprises, making them more competitive, productive and future ready, while supporting inclusive and broad based economic development.
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