SIDBI and Laghu Udyog Bharati Tamil Nadu Collaborate to Strengthen MSME Ecosystem
The Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with Laghu Udyog Bharati (LUB), Tamil Nadu, under the "Programme for Capacity Building" (PROMO) scheme in Chennai. This strategic collaboration aims to empower the Micro, Small, and Medium Enterprises (MSME) sector by enhancing capacity-building initiatives, facilitating better credit access, and fostering overall MSME growth across Tamil Nadu.
Through this MoU, LUB members in Tamil Nadu will benefit from focused interventions to bridge credit gaps, improve financial literacy, and strengthen their enterprises with institutional support from SIDBI. This initiative aligns with SIDBI’s commitment to fostering a robust MSME ecosystem by addressing key financial and operational challenges faced by small businesses.
The MoU was formally signed by Dr. Verchezhian, General Secretary, LUB Tamil Nadu, and Shri Praveenkumar, General Manager (Regional Head), SIDBI. The event also saw the presence of Shri Jayendran from LUB, Shri Anburaj, Deputy General Manager, SIDBI, and other key officials, marking a significant step towards reinforcing MSME development in the state.
