TestCloud
Prep • Practice • Perform
Log In

SIDBI and TIDITSSIA Ink MoU to Boost Local Industries.

MOUs and Agreement | Dated: 03 Feb 2025

In January 2025, the Lucknow, Uttar Pradesh-based Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with The Tiruchirapalli District Tiny & Small Scale Industries Association (TIDITSSIA) to foster mutual cooperation and support local industries.

🎯 Key Highlights:

  • - The signing ceremony was attended by Pyda Rama Krishna, Assistant General Manager (AGM) of SIDBI, J.P. Jagadish, Branch Manager of SIDBI, P. Rajappa, President of TIDITSSIA, along with other dignitaries.

💡 Other Important Facts:

  • (i) Under the MoU, SIDBI will conduct capacity-building training for selected office-bearers and staff of TIDITSSIA, offer support to the association’s members, and organize buyer-seller meetings.
  • (ii) The initiative will assist around 450 members in securing business loans at an interest rate approximately 1% lower than those offered by other financial institutions.

📚 Test Your Knowledge:

Which financial institution has recently signed an MoU with TIDITSSIA to support local industries?

Correct Answer: SIDBI

🚀 Quick Recap: