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SIDBI News
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Sitharaman further said MSME businessmen will not have to undertake an audit for submission of their accounts.
Uttar Pradesh has the highest number of MSMEs and has effectively implemented the One District One Product programme.
The fund will go a long way in making India a major exporting hub, she said.
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PM SVANidhi targets to benefit over 50 lakh Street Vendors.
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Earlier this week, the bank sold one percent stake in Sidbi.
The government is likely to appoint heads of four public sector financial institutions -- Exim Bank, IFCI, Sidbi and IIFCL -- by the middle of next month.
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Prime Minister Narendra Modi will on Tuesday launch the 'Stand up India' scheme under which banks will give loans of up to Rs 1 crore to SC/ST and women entrepreneurs.
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Know the key facts of PM Narendra Modi's Stand Up India Scheme
The Small Industries Development Bank of India (SIDBI) had reported a net profit of Rs 689 crore in the corresponding six months to March 2014 of the previous fiscal.
Lender to small industries, SIDBI today signed USD 543 million (about Rs 3,400 crore) pacts with World Bank for two projects to provide debt assistance to start-ups, MSMEs and promote energy efficiency investments in the country.
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