BANKING AFFAIRS

Detailed explanation-1: -It was set up in 1990 with the mission of empowering the Micro, Small, and Medium Enterprises (MSME) sector to contribute and balanced regional financial institutions responsible for promotion, financing, and development of the section.

Detailed explanation-2: -Role of SIDBI SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.

Detailed explanation-3: -The National Board for Micro, Small and Medium Enterprises (NBMSME) was established by the Government under the Micro, Small and Medium Enterprises Development Act, 2006 and Rules made thereunder.

Detailed explanation-4: -Enterprises eligible under the SIDBI Make in India Loan for Enterprises (SMILE) is listed below: All MSMEs as per MSME Act 2006. Emphasis on financing smaller enterprise within the MSME and also new enterprises in manufacturing as well as service sectors.

Detailed explanation-5: -SIDBI is one of the four All India Financial Institutions regulated and supervised by the Reserve Bank of India; other three are India Exim Bank, NABARD and NHB.