Facilitator Role
PM SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) Scheme
The Ministry of Housing and Urban Affairs (MoHUA), Government of India, launched the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme to make it easier for urban street vendors (SVs) to get affordable working capital loans, after a COVID-induced lockout.
SIDBI, as implementing agency of the scheme, launched a portal on July 02, 2020.
SIDBI modified and developed multiple functionalities, processes and features on the Portal including Mobile App for Lending Institutions (LIs), ULBs, States and all other stakeholders. Digitisation of loan process helped LIs to source and process large number of applications which provided huge impetus in implementing the scheme. This helped to bring SVs, who were largely out of banking credit facilities, into formal lending channel and cultivate banking habit.
The status of Loan under the scheme as on March 31, 2022 is mentioned below:
So far 17.5 crore digital transactions were carried out by 11.1 lakh digitally active SVs. ₹10.58 crore cashback subsidy has been released to 10.59 lakh SVs. This enhanced their digital literacy and also enables SVs to be a part of digital economy.
₹51.78 crore was released as interest subsidy directly in the accounts of Street vendor to decrease their burden of interest rates charged by lenders.
The implementation of the scheme is well recognised at the highest level in Government of India and brings accolades to SIDBI.
Interest Subvention Scheme for Mudra - Shishu Loans
SIDBI is acting as a Nodal Agency for the purpose of channelising of interest subvention to the various MLIs of MUDRA through their Nodal office.
So far, SIDBI has received an amount of ₹775 crore from DFS, MoF, GoI, out of which, SIDBI had settled aggregate claims of ₹661.43 crore received from 104 MLIs, as on date. Further, around 3.20 crore Shishu beneficiaries have so far availed benefits of Interest Subvention Scheme under Mudra Shishu Loan.
Extended Partial Credit Guarantee Scheme (also known as PCGS 2.0) offered by GoI to Public Sector Banks (PSBs) for purchase of (a) high rated pooled assets and (b) Bonds/CPs of NBFCs/HFCs/MFIs
To address temporary liquidity / cash flow mismatches of otherwise solvent NBFCs/HFCs/MFIs.
SIDBI took up the work for evaluation of proposals, keeping record of transactions and determination of guarantee headroom, examination of claims and monitoring of recoveries in account for which guarantee was invoked.
Under Pooled Assets, SIDBI had recommended 60 proposals aggregating ₹11,769.58 crore purchased by Public Sector Banks to DFS, MoF, GoI. Guarantee worth ₹1,176.67 crore was executed.
PSBs had purchased Bonds/CPs worth ₹22,217 crore under Portfolio Guarantee. Guarantees in respect of all proposals executed.
So far, ₹169.70 crore guarantee claim received from five PSBs forwarded to DFS for consideration.
Interest Subvention Scheme - Ministry of AYUSH
Ministry of Ayush (MoA), GoI launched a new initiative “Establishment of AYUSH Super Specialty Hospital/Day Care Centres under the Champion Services Sectors” by providing Interest Subvention against sanctioned loans by Public Sector Banks (PSBs) to the greenfield units who are setting up AYUSH Super Specialty Hospital/Day Care Centres at 155 locations in the country.
The model will be adopted for the private investors & units in descending order for a period of 5 years, whereas maximum subvention of each private investor & unit will be capped at ₹8.15 crore.
SIDBI has been nominated as the single national level nodal implementation agency for this Scheme and MoU has been executed between MoA, GoI and SIDBI.
Production Linked Incentive (PLI) Scheme for manufacturing of Telecom and Networking Products
The scheme was launched by DoT with the objective to boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of ₹12,195 crore.
The support under the Scheme shall be provided for a period of five (5) years, i.e. from FY 2021-22 to FY 2025-26.
SIDBI is the Project Management Agency (PMA) for the Scheme.
Production Linked Incentive (PLI) Scheme for Pharmaceuticals
The PLI Scheme for Pharmaceuticals is a flagship scheme of the Government of India and launched by the Department of Pharmaceuticals (Ministry of Chemicals and Fertilizers), to create global champions out of India.
SIDBI is the Project Management Agency (PMA) for the Scheme.
With a scheme outlay of ₹ 15,000 crore, 278 applications were received under the Scheme.
55 applicants, including 20 MSMEs, were selected for receiving incentives under the Scheme.
Animal Husbandry Infrastructure Development Fund (AHIDF)
₹15,000 crore fund to incentivise investments to establish Dairy Processing & value addition infrastructure, Meat Processing & value addition infrastructure and Animal Feed Plants.
The Bank is implementing partner for the scheme and has collaborated with Department of Animal Husbandry & Dairying, MoFAHD, GoI.
A total of 2,400 applications were received under the Scheme. An amount of ₹2,500.00 crore was sanctioned by scheduled banks and ministry had approved interest subvention of ₹31.82 crore under the scheme.
National Livestock Mission (NLM)
The scheme is managed by Department of Animal Husbandry and Dairying (DAHD), Ministry of Fisheries, Animal Husbandry and Dairying. To enhance the effectiveness of the scheme, better monitoring, submission of online applications by the applicants, processing of applications in a transparent manner and an overall customised workflow of applications, DAHD had engaged SIDBI as an implementing partner for the scheme.
DAHD had also nominated SIDBI as Fund Channelising Agency for the management of subsidy.
SIDBI created a customised workflow on Udyamimitra Portal for submission of online application form and submission of required documents by applicants directly on the portal.
More than 7,000 applications have been received and capital subsidy of ₹19.00 crore approved by ministry.
SIDBI AS NODAL AGENCY FOR GOVERNMENT OF INDIA SCHEMES
The Bank has been assigned the nodal agency role by the Government of India for implementing various Government subsidy schemes, namely, Credit Linked Capital Subsidy Scheme (CLCSS), Special Credit Linked Subsidy Scheme (SCLCSS), Technology Up-gradation Fund Scheme for Textile Industry (TUFS), Integrated Development of Leather Sector Scheme (IDLSS), Scheme of Technology Up-gradation/ Setting up/Modernisation/Expansion of Food Processing Industries (FPTUFS) and Technology and Quality Upgradation (TEQUP) Scheme. Cumulatively SIDBI facilitated release of subsidy of ₹4,453.80 crore to 54,721 MSMEs.
Special Credit Linked Capital Subsidy Scheme (SCLCSS)
The SC/ST MSEs will be provided subsidy of 25% under SCLCSS guidelines and it would be released from National Scheduled Caste and Scheduled Tribe Hub (NSSH) under NSIC. Since the launch of the Scheme, capital subsidy claims aggregating ₹45.06 crore to 369 units have been released through SIDBI. During FY 2022, claims aggregating ₹20.41 crore to 158 units have been released. The scheme is applicable from the date of sanction till 31/03/2026. The total plan outlay of NSSH for the period from FY 2021-22 to FY 2025-26 would be ₹438 crore.
Balance Sheet and Statement of Accounts
The accounts of the Bank for FY 2021-22 were audited by M/s BORKAR & MUZUMDAR, Chartered Accountants, Mumbai, who were appointed under the terms of Section 30(1) of SIDBI Act 1989 (as amended) by Board of Directors on October 09, 2020 as authorised by Shareholders at the Annual General Meeting held on July 02, 2020 for carrying out the statutory audit.
The reports for the Auditors are given in Part-II of the Annual Report.
The audited Balance Sheet, along with Profit and Loss Account and Cash Flow Statement of Small Industries Development Bank of India, for the financial year 2021-22 are given in Appendix - I. The consolidated Balance Sheet along with Profit and Loss Account and Cash Flow Statement of SIDBI with its subsidiaries viz. SIDBI Venture Capital Ltd. (SVCL), SIDBI Trustee Company Ltd. (STCL), Micro Units Development & Refinance Agency Ltd. (MUDRA) and associates viz., Acuité Ratings & Research Limited, India SME Asset Reconstruction Company Ltd. (ISARC), Receivable Exchange of India Ltd. (RXIL) and others are given in Appendix - II.
Aggregator Role
