SIDBI officials celebrate foundation day

BENGALURU: Small Industries Development Bank of India (SIDBI) on Monday celebrated its foundation day by visiting customers of micro and small enterprises (MSE) across the country. The move comes as the bank announced a new vision for operations which seeks to promote inclusive growth plans by engaging with MSEs, which are the banks biggest customers. “The visits are different from usual customer interactions as officials spent time with them to observe a typical day in the life of small entrepreneurs.

Wherever permitted, our officials will also stay at the residences of these entrepreneurs and will understand the concerns they face at the ground level. This will help devise policies for betterment of MSEs,” a statement from SIDBI said. As part of the programme, 250 officials will visit customers across 24 states and Union Territories and will include 100 districts. The bank was set up on April 2, 1990, to be the principal financial institution for promotion, financing and development of the MSME.