SIDBI ties up with Assam government to boost MSME efficacy in employment generation

With the objective to develop local businesses, Small Industries Development Bank of India (SIDBI), one of the prime financial institutions for promoting, developing and financing micro, small and medium enterprise (MSME) will be deploying a ‘project management unit’ (PMU) in the state of Assam.

Assam is included as part of SIDBI’S initiative to set up PMUs in 11 other states, the units will work towards giving a leg up to impaired MSMEs by interest subvention and equity support.The PMUs will also help local MSMEs in easy accessibility of digital platforms, availment of PSB loans stock exchange listing and facilitating awareness on activities and schemes under the Atma Nirbhar Bharat program.

According to a statement by SIDBI, it has also initiated a collaboration with Assam State Rural Livelihood Mission to “serve income-generating activities at the base of the pyramid including migrants.

Silk, Bamboo, tea and other agriculture products in Assam have a vast potential to generate the employment opportunities at regional level.

Cover image by Tripoto