Bank to promote small industries

Feb 2007
Calcutta, India, February, 09 2007 - Small Industries Development Bank of India (SIDBI) has decided to set-up entreprenuership development centres in rural belts across the state.

The centres, which would be run by agencies appointed by the SIDBI, would provide training facilities on micro-finance to rural folks.

General manager of the eastern region K.S. Singhwan, who was in the city to attend a customers’ meet said, keeping in mind the state’s potential, the financial institution has decided to set-up such centres .

“Micro finance is a good tool to generate employment and in poverty alleviation. Keeping this in view we have decided to start such centres that would provide training on myriad subjects, especially to the women,” said Singhwan.

The senior official of SIDBI also added that so far 26 lakh beneficiaries have been covered under the scheme and Rs 900 crore has been given as loan across the country.

At present the SIDBI has two offices in Ranchi and Jamshedpur which caters to the needs of small-scale industries (SSIs).

While, considering the growing credit needs of the small and medium (SME) enterprises sector, the principal financial institution of the country has decided to open another office at Dhanbad by the end of this month.


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