The Contribution Of SIDBI In The Development Of Small And Medium-Scale Industries In India

The Contribution Of SIDBI In The Development Of Small And Medium-Scale Industries In India: Success Or Failure?




Prudhivi Renuka Sai, Damodaram Sanjivayya National Law University, Visakhapatnam

ABSTRACT

In 1770 Bank of Hindostan, the first modernized bank in India was established. The bank has a long history of service in helping the Indian economy and withstood the Recession of 1819 and The failure of Palmer and Co., a British agency house. Unfortunately, this bank was closed in 1832 due to a financial crisis. In 1964, the Industrial Development Bank of India (IDBI) was established to serve the needs of developing Industries. There is a need for a financial institution to develop the production, distribution, and supply of goods.

The primary aim of banks is to develop relations with the community and help further the interests of the public at large. The objectives and purposes of providing credit to Small and Medium Scale Industries (SMEs) are pretty simple. In this project, the researcher will discuss the establishment and growth of SIDBI along with its importance and its role in the banking industry. The project's main body will be focused on SIDBI’s contributions to the development of Small and Medium-Scale Industries in India. All the arguments and points will be supported by the relevant source, landmark case laws, statistics, and journal articles.

Keywords: MSMEs, SIDBI, Economy, Development.

Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

License: Creative Commons 4.0

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