SIDBI and Federal Bank Partner to Strengthen MSME Financing:
The Small Industries Development Bank of India (SIDBI) and Federal Bank have signed a Memorandum of Understanding (MoU) to enhance financial support for micro, small, and medium enterprises (MSMEs). This collaboration aims to boost the MSME ecosystem by offering various financial services, including project finance, machinery and equipment loans, working capital support, and loans against property. The partnership will also explore joint financing options to extend credit facilities to MSMEs, ensuring easier access to funds for their growth and development. The announcement aligns with Prime Minister Narendra Modi’s commitment to strengthening the MSME sector, recognizing it as the backbone of India’s manufacturing and industrial growth.
