SIDBI, TDB Join Hands To Provide MSMEs Easy Credit Access For Indigenous Tech

Hyderabad, Nov 17 (KNN) Small Industries Development Bank of India (SIDBI), has entered into a Memorandum of Understanding (MoU) with Technology Development Board (TDB) with an aim to ease access of credit to MSMEs which are attempting development and commercial application of indigenous technology or adapting imported technology for wider domestic applications.

The MoU was exchanged by Rahul Priyadarshi, Chief General Manager, SIDBI and Rajesh Jain, Director, TDB.

This pact is an arrangement for a joint initiative by TDB and SIDBI, to extend financial assistance to eligible MSMEs as per the terms & conditions of TDB & SIDBI.

Speaking about the arrangement, Rahul Priyadarshi, Chief General Manager, SIDBI said, “SIDBI’s emphasis is on strengthening the MSME eco-system and realizing GoI’s ideology of “Make in India” and making India “Self-reliant”.

SIDBI and TDB will support MSMEs with respective core-competencies / expertise, with the common vision of financing MSMEs in India.

(KNN Bureau)