Question
What is the primary objective of the MoU signed between
the Technology Development Board (TDB) and the Small Industries Development Bank of India (SIDBI)?Solution
With an aim to boost the Micro, Small, and Medium Enterprise (MSME) sector in India, the Technology Development Board (TDB) and the Small Industries Development Bank of India (SIDBI) have signed an 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 organizations will streamline coordination for seamless referral exchange. TDB and SIDBI will also provide financial support to eligible MSMEs, following their respective policy guidelines.
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