IDBI and SIDBI launches joint financing scheme for MSME

IDBI Bank announced a new joint financing scheme for the small and medium enterprises (SMEs) in collaboration with Small Industries Development Bank of India (SIDBI), apart from other products and services on its 7^th foundation day.

The first ten lucky places where joint funding was rolled out are Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Indore, Jaipur, Lucknow, Ludhiana and Rajkot. The rest of the country will receive it subsequently.

Apart from the joint funding for SMEs, the bank has also extended 7-day banking services to customers in select branches in five cities, that is, Mumbai, Delhi, Chennai, Pune and Bangalore. Also the working hours for these branches will be 8 am to 8 pm.