Cabinet Approves Equity Support for Small Industries Development Bank of India
The Union Cabinet has sanctioned an equity infusion of Rs.5,000 crore into the Small Industries Development Bank of India (SIDBI) to bolster the flow of credit to the micro, small, and medium enterprises (MSME) sector. This strategic financial backing, approved under the leadership of Prime Minister Shri Narendra Modi, is expected to substantially uplift the credit availability to MSMEs and foster economic growth by generating employment. A phased infusion will see SIDBI augment its capital to manage higher risk-weighted assets while promoting initiatives to elevate its risk-weight asset ratio.
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