Kolkata: West Bengal Small Industries Development Corporation Limited (WBSIDCL) has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI), to develop the MSME eco-system in Bengal.
The objective of this MoU is to enhance cooperation between the state government and SIDBI to further accelerate the development of MSMEs in the state in a structured and planned manner and facilitate the MSME entrepreneurs with handholding support and financial assistance from SIDBI at a competitive price, for meeting their financial and developmental needs.
WBSIDCL shall provide a dedicated Desk to SIDBI for setting up an MSME Facilitation Desk, and subsequently SIDBI shall provide the required
resources for the MSME Facilitation Desk.
After allotment of land to the eligible MSMEs, WBSIDCL shall forward a copy of the land allotment letter to SIDBI and SIDBI shall undertake assessment of the applications originated through the MSME facilitation desk/WBSIDCL/other state agencies on a fast-track basis.
WBSIDCL shall designate a nodal officer for coordination with SIDBI and SIDBI shall prepare a Frequently Asked Questions (FAQs) for the MSMEs.
According to sources, the MoU was exchanged by Nikhil Nirmal, Managing Director of WBSIDCL, and Sudatta Mandal, Deputy Managing Director, SIDBI in the presence of Hari Krishna Dwivedi, state Chief Secretary, during the two-day Bengal Global Business Summit (BGBS) that ended on April 22.
"The MoU would be beneficial to the MSMEs in the State of West Bengal, in terms of acceleration in setting up their units and getting institutional support in a faster way," a senior official of WBSIDCL said.