SIDBI organises awareness workshop under Cluster Intervention Programme

SIDBI organised an awareness workshop on Government Schemes & Financial Literacy, under the Cluster Intervention Programme at Printing and Packaging Cluster Bhubaneswar & Cuttack. 

The objective of the workshop was to bridge the information gap among MSMEs, enabling them to leverage available benefits in the local ecosystem to upscale and achieve sustainable growth.

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During the event, the MSME units were educated on various schemes and aspects pertaining to raw material procurement, land allocation, infrastructure development, working capital and CIBIL ranking/score. SIDBI officials also shared information on their direct assistance schemes and various other developmental initiatives.

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Additionally, Small Industries Development Bank of India (SIDBI) has entered into an agreement with a fintech Onion Life Private Limited to use the technology platform KarmaLife for a pilot to provide micro loans to gig workers. This is expected to support the gig workers’ financial inclusion to formal institutional credit. The agreement has been signed recently.

The entity is under the jurisdiction of the Ministry of Finance, Government of India headquartered at Lucknow and having its offices all over the country. The SIDBI was established on April 2, 1990, by the Government of India, as a wholly-owned subsidiary of IDBI Bank.

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