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Business EconomyPosted at: Mar 6 2025 7:22PM


SIDBI signs MoU with The Federal Bank Limited to strengthen MSME financing

Mumbai, Mar 6 (UNI) Small Industries Development Bank of India (SIDBI) and The Federal Bank Limited (FBL) signed MoU for financing MSMEs for growth and development of MSME Ecosystem.
The arrangement is for providing financial assistance in the field of project finance, machinery/ equipment finance, working capital (including letter of credit and bank guarantee), loan against property, etc, the SIDBI said in a statement on Thursday.
Further, joint financing shall also be explored while extending credit facilities to MSMEs. The MoU was signed by Prakash Kumar, Deputy Managing Director, SIDBI and Harsh Dugar, Executive Director, FBL in the presence of senior SIDBI and FBL officials.
SIDBI acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.
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