Date:23/06/2006 URL: http://www.thehindubusinessline.com/2006/06/23/stories/2006062301580600.htm

Back SIDBI opens new branch at Hosur

Our Bureau

Mumbai, June 22

Small Industries and Development Bank of India (SIDBI) has opened its 57th branch at Hosur, Tamil Nadu.

SIDBI is now focusing on direct finance to SSIs and expanded all its schemes to expand its retail lending activity, the bank said in a news release quoting Mr K.M. Nair, Zonal Chief, SIDBI, Southern Zone. Though the indirect finance could have a good reach, the objective of rural upliftment through direct credit still remains unfulfilled by RRB and SFC model, the release said quoting Mr Jawhar Sircar, Additional Secretary, Small Scale Industries.