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Sidbi doubles MFI funding

Small Industries and Development Bank of India (SIDBI) will fund Rs 1000 crore this financial year to microfinance institutions. The development bank had extended Rs 600 crore to the sector last year. With additional funding, Sidbi’s exposure to the MFI sector would be close to Rs 2500 crore by the end of this financial year, against Rs 2000 crore at present, according to N.K. Maini, deputy managing director. He said the bank would continue to support Bandhan’s lending to MSME sector. At present, it holds close to 10 per cent stake in Bandhan.

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