SIDBI joins hands with Government of Assam for the Development of MSME Ecosystem in the State

New Delhi: Small Industries Development Bank of India (SIDBI), the country’s principal financial institution for Micro, Small and Medium Enterprises(MSME), has entereda Memorandum of Understanding (MoU) with the Government of Assam(GoA) to develop the MSME ecosystem in the State. The MoU was exchangedby Shri Dr.Pabitra Ram Khaund, Secretary to the Government of Assamand Dr. R. K. Singh, General Manager, SIDBI in the presence of Shri. Chandra Mohan Patowary, Cabinet Minister for Department of Commerce & Industry, Transport, Parliamentary Affairs, Act East Policy Affairs,Skill, Employment & Entrepreneurship Development,Govt of Assam.

Under the MoU, a Project Management Unit (PMU) will be deployed by SIDBI with GoA.The PMU will support the GoA in making necessary interventions for enhancing efficacy of MSMEs in the state. PMU’ few broad contours includes the following:

a) Designing of scheme(s) in the areas of equity support, interest subvention, resolution of stressed MSMEs,

b) Study of the existing framework of schemes / interventions / initiatives / projects, etc. available for benefit of / targeted towards MSMEs in the state and suggesting modifications with the objective of enhancing efficacy and removal of bottlenecks,

c) Preparation of a process for handholding MSME in the state for their onboarding into digital platforms such as PSB Loans In 59Minutes, Stock Exchange listing, e-commerce platforms such as GEMs, etc.

d) Facilitating awareness on activities / schemes for MSMEs by GoA under Atmanirbhar Bharat Abhiyan


On this occasion, the Hon’ble Minister stated that this MoU would be beneficial to the Micro and small enterprises in the State of Assam. State of Assam is proactively looking this sector as a solution for employment and growth. On this occasion, Dr. K K. Dwivedi, I.A.S., Commissioner and Secretary to the GoA, Industries and Commerce Department said that this MoU shall help in attracting the un-organised sector to emerge more organized and avail benefits available in the Eco System. Dr. R. K. Singh, General Manager of SIDBI said, “We are working towards strengthening the MSME Eco System in the 11 States and MoU with Government of Assam is the 9th MoU. SIDBI would place an expert agency with the State Nodal Unit. Parallel to this arrangement, SIDBI has also initiated collaboration with SRLM, Assam to serve income generating activities at base of the pyramid including migrants. On this Shri Vijay Kumar Gupta, Chairman, Assam Financial Corporation, Shri ManojLundia, President, LaghuUdhyogBharati, Ms. Krishna Baruah, Mission Director, Assam Rural Livelihood Mission were also present.


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