SIDBI signs MoU with Federal Bank to foster growth of MSME ecosystem

SIDBI and the Federal Bank Limited (FBL) have signed a Memorandum of Understanding (MoU) aimed at strengthening financing for micro, small, and medium enterprises (MSMEs) and promoting the growth of the MSME ecosystem in Mumbai.

This collaboration focuses on providing financial support for project financing, machinery and equipment financing, working capital solutions (including letters of credit and bank guarantees), and loans against property.

Furthermore, the two institutions will explore joint financing opportunities to improve credit access for MSMEs.

The MoU was signed by Shri Prakash Kumar, Deputy Managing Director of SIDBI, and Shri Harsh Dugar, Executive Director of FBL, in the presence of other senior officials from both organizations.

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