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Question
Answer in brief.
Describe any two features of SIDBI.
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Solution
Features of SIDBI:
- Financial Institute for Promotion of MSMEs: SIDBI is established to provide short term and long term finance to the MSMEs. It is the principal financial institution for micro, small, and medium sector units. It also coordinates the functions of institutions engaged in financing MSME’s. It provides refinance to Banking and Non-Banking Financial Companies to increase the supply of credit to MSMEs.
- Advisory Function: SIDBI also works as an advisor and mentor of MSMEs. It helps MSMEs in expanding marketing channels for the products both in domestic as well as international markets. It also initiates steps for modernization and technological upgradation of current units.
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