SEDBI contributes Rs ten crore to NEDFi

By Staff
|
Google Oneindia News

Agartala, May 08: Small Industrial Development Bank of India (SIDBI) has contributed Rs ten crore towards the paid up capital of the Northeast Development Finance Corporation (NEDFi) to catalyse the economic development of the region.

Official sources here today said the Bank had brought out a compendium of 75 profiles on tiny and small-scale sector projects, especially suitable for Northeastern region, while 382 entrepreneurs had identified projects and about 154 had already set up their units with an investment of Rs 594 lakh in different states of the region.

With a view to evaluating the effectiveness of various developmental initiatives of the Bank in the region in terms of achievement of employment generation, income generation, growth of economic activities and entrepreneurship promotion, the SIDBI had commissioned a study through Northeastern Institute of Bank Management (NEIBM).

It was carried out for capacity building intervention for government and non-governments, particularly in maintenance of accounts, basic house keeping, leadership, micro enterprise development, networking and follow-up support, project planning, counselling and other areas of managerial skill within the framework of the project, sources stated.

UNI

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