To generate fee-based income, the Small Industries Development Bank (SIDBI) has entered into an agreement with the Bahrain Development Bank (BDB).
To generate fee-based income, the Small Industries Development Bank (SIDBI) has entered into an agreement with the Bahrain Development Bank (BDB).
As per the agreement, SIDBI will provide a host of services to BDB, including technical assistance and facilitate activities of BDB group in risk management and credit appraisal, training of staff in SME credit risk appraisal and related areas, framing a monitoring policy and NPA management system, SIDBI said in a statement.
It will also involve exploring tie-up of Indian micro, small and medium enterprises with SMEs in Bahrain for mutual benefit, it said.
SIDBI Deputy Managing Director N K Maini said the MoU will help the bank with some fee-based income, but would also be of benefit small businesses in expanding their presence in Bahrain.
The statement said the objectives of both the SIDBI and BDB are similar, in identifying the gaps and helping develop a good ecosystem for entrepreneurship.
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