SIDBI COLLABORATES WITH GOVERNMENT OF ASSAM TO STRENGTHEN TIES FOR DEVELOPMENT OF MSMES

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMES) participated in a special event held at the Administrative Staff College, Guwahati,

Assam to strengthen the state co-operation.the event was chaired by Shri Himanta Biswa Sarma, Hon’ble Chief Minister of Assam. During the event the Shri K. K. Dwivedi, IAS, Principal Secretary, Industries & Commerce, Govt. of Assam presented the expectations of the Govt. of Assam on three major themes viz. startups, cluster development and livelihood and enterprise promotion. On this occasion, Shri Himanta Biswa Sarma, Hon’ble Chief Minister of Assam called upon state level institutions and line departments to enhance co-operation with institutions like SIDBI. He laid expectations that cluster programme should have twining with One District One Product model such that niche areas of state can be brought up in the value chain, thus helping those at the bottom of pyramid. He also requested SIDBI to extend its expertise to manage startup fund along with active state level institutions. The Hon’ble Chief Minister of Assam called upon SIDBI to help the state in formulating a suitable guarantee fund leveraging Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and also state extending its funds to either bear the service fee or extend the guarantee coverage beyond CGTMSE. He also appreciated the Prayaas Scheme of SIDBI which can bring a change to the microfinance scenario in the state. Shri Sivasubramanian Ramann, IA&AS, Chairman and Managing Director, SIDBI said, “SIDBI has been laying thrust on kindling entrepreneurship through its Mission Swavalamaban and also by digitizing credit availability process such that end customers reap the benefit of lower rate of interest and transparent access. SIDBI has been dovetailing its promotion and development initiatives on soft side with hard infrastructure through its latest offerings such as cluster development fund. SIDBI looks forward to deepening its footprint in the state of Assam by contributing to livelihood and micro enterprise value chain as also innovation and startup ecosystem.”