Technology Development Board and Small Industries Development Bank of India Forge Strategic Alliance to Boost MSMEs through Technology-Focused Financing

摘要

In a significant move to bolster the Micro, Small, and Medium Enterprises (MSME) sector in India, the Technology Development Board (TDB) and the Small Industries Development Bank of India (SIDBI)have formalised a Memorandum of Understanding (MoU) to facilitate easier access to credit for enterprises engaged in the development and commercial application of indigenous or imported technology. Through this MoU, TDB and SIDBI have entered into a credit alliance, wherein TDB and SIDBI shall refer additional funding needs of companies they have previously funded to each other. With dedicated key contacts, both organisations will streamline coordination for seamless referral exchange.TDB and SIDBI will also provide financial support to eligible MSMEs, following their respective policy guidelines.