Multiple initiatives were launched by Union Finance Minister Nirmala Sitharaman in Mumbai today on the occasion of 37th Foundation Day celebration of SIDBI (Small Industries Development Bank of India). The initiatives included SIDBI MachFin Mart: A digital platform enabling MSMEs to access machines through a structured marketplace, supporting price discovery, standardisation, and technology adoption.
RRB Co-Lending Portal: A platform to operationalise partnerships between SIDBI and Regional Rural Banks (RRBs), improving credit flow in rural and underserved geographies. MoRE (Modernisation of Rural Enterprises): A focused initiative programme to provide transformational support to 10,000 rural micro and artisanal units over the next 3 years, through cluster-based interventions in such rural/artisanal clusters.
Finance Minister said that the initiatives launched today will give easier access to credit, modern technology, rural enterprise support and stronger market linkages. RRB Co-Lending Portal will help link SIDBI’s MSME financing experience with the grass roots reach of the Regional Rural Banks increasing access to the underserved areas.
The SIDBI MachFin Mart will be a digital platform enabling MSMEs to access machines through a structured marketplace, supporting price discovery, standardisation, and technology adoption.
Finance Minister said that the MSME sector remains central to India’s growth trajectory, employment generation, and export competitiveness. The initiatives launched today reinforce the Government’s continued commitment to building a resilient, technology-driven, and inclusive MSME ecosystem. By improving access to credit, enabling digital platforms, and accelerating rural industrial modernisation, these interventions will further strengthen the foundation for Viksit Bharat 2047 and ensure that growth reaches enterprises across geographies, especially in rural and underserved regions.
Sitharaman said India continues to have a robust economy in spite of global uncertainties. This is substantiated by indicators like strong GST revenues, with gross GST collections rising 8.3 percent year on year, broadbased domestic demand, healthy banking system with declining NPAs and growing credit profile, higher investment activity and profit margins in corporate sector.
Finance Minister said the West Asia crisis has put pressure on fuel, fertilizer and foreign exchange and hence reiterated Prime Minister’s appeal to conserve foreign exchange considering this context and avoid fear mongering.
