Apparel Industry Management

Apparel Industry Management 3(3+0)

Lesson 46 : Support System-Banks, Govt. Agencies and Institutions

National Small Industries Corporation

The National Small Industries Corporation Ltd (NSIC) was set up in 1955 as a central government undertaking, the main aim of which is to fulfill the requirement of machinery and equipment for the development of the small entrepreneurs. NSIC is established to cater to this need of the entrepreneur. NSIC provides plant, machinery and equipment on a hire-purchase basis. Under its special scheme, entrepreneurs can procure indigenous as well as imported machinery.

Small Industries Development Bank of India
Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities. Four basic objectives of SIDBI are:

• Financing
• Promotion
• Development
• Co-ordination

Industrial Development Bank of India
Industrial Development bank of India (IDBI) was constituted under Industrial Development bank of India Act, 1964 as a Development Financial Institution and came into being as on July 01, 1964. It was regarded as a Public Financial Institution and continued to serve as a DFI for 40 years till the year 2004 when it was transformed into a Bank.