The Small Industries Development Bank of India (SIDBI) has entered into a memorandum of understanding with Telangana government for the promotion and development of micro, small and medium enterprises (MSMEs).
Under the MoU, a Project Management Unit (PMU) will be deployed by SIDBI to design schemes and programmes in areas of equity support, interest subvention, resolution of stressed MSMEs as well as to support entrepreneurs and facilitate other need-based intervention based on evaluation of existing status of the enterprises.
The PMU will also study existing framework of schemes, interventions, initiatives and projects for MSMEs and suggest modifications, if need be, with the aim to enhance their efficacy and remove bottlenecks.
