Small Industries Development Bank of India (SIDBI) signs MoU with Technology Development Board to support Micro, Small and Medium Enterprises (MSME)
Banking & Finance
In a significant step to promote the Micro, Small and Medium Enterprises (MSME) sector in India, Technology Development Board (TDB) and Small Industries Development Bank of India (SIDBI) have entered into a Memorandum of Understanding (MoU) to facilitate Have signed. Through this MoU, TDB and SIDBI have entered into a credit alliance, wherein TDB and SIDBI will refer the additional funding needs of companies which they have previously funded to each other. With dedicated key contacts, both organizations will streamline coordination for seamless referral exchange. TDB and SIDBI will also provide financial assistance to eligible MSMEs following their respective policy guidelines. The partnership between TDB and SIDBI aims to support MSMEs in their efforts to develop and implement cutting-edge technology for the betterment of society at large. This collaboration is expected to pave the way for increased innovation, employment generation and overall economic growth in the MSME sector.
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