Shri Manoj Mittal, Chairman and Managing Director, Small Industries Development Bank of India (SIDBI) inaugurated new office premises of Mumbai Regional Office and Branch Office at Dadar (West), Mumbai to cater to the growing financial requirements of MSMEs in and around Mumbai and also neighbouring areas.  Shri Prakash Kumar, Deputy Managing Director, SIDBI and Shri Nandan Khambete from Thane Small Scale Industries Association (TSSIA) graced the occasion. 

SIDBI has been taking new initiatives to increase the flow of credit to MSMEs.  Providing ‘timely and adequate credit’ is the mantra followed in SIDBI. It has fully digitized its lending processes to extend financial assistance in 48 hours. SIDBI has been involved in introducing policies for providing timely financial assistance and liquidity to MSMEs. MSME can consider investment in green energy, cleaner production and energy efficiency with support from SIDBI, which will also make them sustainable and remain competitive and be part of national commitment on energy independence and carbon neutrality.

Mumbai Branch Office is committed to increase the assistance to MSMEs in the region with increasing the number of customers and disbursals substantially.  Mumbai Branch will work closely with MSMEs, Industry associations and all the stakeholders to provide focused financial support to MSMEs located in Mumbai and nearby areas. Besides financial assistance, SIDBI is dedicated to extending development support to entrepreneurs in their growth journey. 

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During the event, sanction letters were issued to micro and small enterprise customers for term loans ranging from Rs.15 lakh to Rs.20 crore for purchase of plant and machinery and for expansion/ modernization of units.

The programme witnessed presence of around 100 MSMEs, dignitaries, representatives of Industry Associations and other stakeholders from the Region.