Mumbai, April 23 (KNN) Small Industries Development Bank of India (SIDBI) has approved Rs 600 crore for the upgradation and revival of industrial cluster in Maharashtra. 

V Satya Venkata Rao, Deputy Managing Director of SIDBI said the financial institution has taken a programmatic approach to foster closer cooperation with the state government. 

In view of the programmatic approach SIDBI has issued an approval letter to Maharashtra government of a total amount of Rs 600 crore for reviving and upgrading various ITIs /polytechnics under the SIDBI Cluster Development Fund (SCDF). 

These institutions are being run by the Directorate of Vocational Education and Training under the Department of Skills, Employment, Entrepreneurship and Innovation of the state government.

SIDBI is the principal financial institution which looks after the promotion of MSMEs.  (KNN Bureau)