FM Sitharaman launches key SIDBI initiatives for MSME growth
May 25, 2026
Synopsis
These include portals for credit delivery to rural areas and machinery access for MSMEs, alongside a program to modernize rural enterprises and credit cards for micro-enterprises.
Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, speaking at the 37th Foundation Day celebrations of Small Industries Development Bank of India (SIDBI) in Mumbai today, said the MSME sector remains central to India’s growth, employment generation, and export competitiveness. The Finance Minister also highlighted measures taken by the Government of India for sectors affected by the West Asia conflict, including ECLGS 5.0, which will support MSMEs during this period. She also outlined the vision for SIDBI and its role as a market-maker, especially with regard to the capital infusion of Rs.5000 crore by the Govt of India.
On the occasion, the Finance Minister also launched a set of portals and initiatives aimed at strengthening the MSME ecosystem, improving last-mile credit delivery, and supporting the modernisation of rural industries.
The initiatives and portals launched during the event include the SIDBI RRB Co-Lending Portal, a platform to operationalise partnerships between Small Industries Development Bank of India (SIDBI) and Regional Rural Banks (RRBs) to improve credit flow in rural and underserved areas; SIDBI MachFin Mart (SIDBI MachFin Mart), a digital platform enabling MSMEs to access machinery through a structured marketplace supporting price discovery, standardisation, technology adoption, and embedded loan sanction; and MoRE (Modernisation of Rural Enterprises), an initiative aimed at supporting 10,000 rural micro and artisanal units over the next three years through cluster-based interventions.
The Credit Cards for Micro Enterprises programme of the Department of Financial Services, Government of India, was also launched at the event. The credit cards, with a limit of Rs5 lakh for Udyam-registered micro enterprises, are intended to enable easier and faster access to working capital financing.
Sanjay Lohiya, Special Secretary, Department of Financial Services, acknowledged the contribution of SIDBI’s leadership and staff in building an institution with credibility across the financial sector. “The Department of Financial Services looks forward to SIDBI continuing to play a proactive role in strengthening MSME finance and supporting India’s broader development objectives. In the evolving financial landscape, SIDBI’s role extends beyond financing to setting benchmarks, building confidence, and strengthening the MSME finance ecosystem,” he said.
Manoj Mittal, Chairman & Managing Director, SIDBI said in a statement “These initiatives mark a significant step in SIDBI’s ongoing efforts to transform MSME financing through digital enablement and partnerships. The focus is on improving credit access, credit delivery efficiency and promoting technology adoption through digital platforms and collaborative partnerships. Our approach is also anchored on supporting modernisation of rural enterprises, thereby making them more competitive, productive and future-ready, apart from enabling inclusive and broad-based economic development.”
[The Economic Times]
