SIDBI RECRUITMENT 2023 NOTIFICATION
About SIDBI (Small Industries Development Bank of India)
The supreme regulatory agency for general licensing and oversight of micro, small, and medium enterprise finance organizations in India is the Small Industries Development Bank of India (SIDBI). It is governed by the Ministry of Finance of the Government of India, which has offices around the nation and its headquarters in Lucknow. The Government of India founded the SIDBI on April 2, 1990, and it is a fully owned subsidiary of IDBI Bank. Delinking from IDBI began on March 27, 2000. It acts as the main banking organization in the micro, small, and medium-sized businesses (MSME) sector and offers remortgage facilities to banks and other financial institutions. It also engages in time financing and working capital financing to industries.
Image Source: SIDBI Website
The Reserve Bank of India oversees and regulates four all-India financial institutions, including SIDBI. The additional three are Exim Bank of India, NABARD, and NHB. Through their activities in extending credit and refinancing operations, they fulfill an official role in the financial system and serve the industrial sector’s long-term financing needs.
What are the main functions of SIDBI?
Through the SIDBI Foundation for Micro Credit, SIDBI actively promotes the growth of Micro Finance Institutions and aids in the distribution of microloans via MFIs. The program’s promotion and development focuses on entrepreneurship development and the promotion of rural firms.
It runs a refinance program called the Institutional Finance program to boost and support financial assistance to the MSE sector. SIDBI provides Banks, Non-Banking Financial Companies, and Small Finance Banks with assistance for Term Loans under this program. In addition to refinancing, SIDBI provides direct loans to MSMEs.
CRISIL and SIDBI collaborated to produce CriSidEx, India’s first sentiment index for small and micro enterprises (MSEs). It is a composite indicator that ranges from 0 (very negative) to 200 (very positive), measuring MSE business sentiment based on an overall diffusion index comprising eight parameters. The primary advantage of CriSidEx lies in its ability to identify possible obstacles and shifts in production cycles, hence enhancing market efficiency. Additionally, it would provide practical indicators on international trade by encapsulating the sentiment of importers and exporters.
What is the role of SIDBI ?
Indirect Lending:
Based on the multiplier effect and wider reach, indirect lending is provided to the MSME sector by banks, SFBs, NBFCs, MFIs, and New Age Fintechs.
Direct Lending :
Through creative and demonstrative lending products, which can be further scaled up by the credit delivery ecosystem, direct lending seeks to close the credit gaps currently present in the MSME sector.
Funds of Funds :
By providing funding to up-and-coming firms via the Fund of Funds channel, Fund of Funds enhances the culture of entrepreneurship.
Development and Promotion:
Through credit-plus programs, entrepreneurship is encouraged and aspiring business owners are supported in their efforts to develop the MSME sector holistically.
Facilitator:
Serving in a facilitation capacity as a Nodal Agency for government schemes targeted at SMEs.
IS SIDBI a Government of India Company?
Established on April 2, 1990, by an Act of the Indian Parliament, the Small Industries Development Bank of India (SIDBI) serves as the primary financial institution for the financing, development, and promotion of the Micro, Small, and Medium Enterprise (MSME) sector. It also coordinates the operations of other institutions involved in related activities. It is wholly owned by Government of India and regulated by RBI.
Who is the Chairman of SIDBI?
Shri Sivasubramanian Ramann is the Chairman & Managing Director of SIDBI . He was appointed in April 2021.
SIDBI Recruitment 2023 Notification PDF
Applications are being accepted for the position of Assistant Manager in Grade ‘A’ (General Stream) 2023 at the Small Industries Development Bank of India (SIDBI) from qualified individuals.
Click below for notification :
https://sidbi.in/files/careers/SIDBI_Officers_GR’A’_General_Stream_2023.pdf
What is the last date for SIDBI Recruitment 2023?
Last date to apply:28th November 2023.
How to apply for SIDBI Grade A recruitment 2023?
Click below to apply online:
https://ibpsonline.ibps.in/sidbioct23/
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