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SIDBI branch at Hosur
Special Correspondent
CHENNAI:
Small Industries Development Bank of India (SIDBI) has set up a branch at Hosur in Tamil Nadu. The Hosur branch will be its 57th.
SIDBI, according to its Chairman and Managing Director, N. Balasubramanian, has chosen to go to Hosur not to compete with banks there but to complement their efforts. "We will work to boost the small scale industries by forging strategic alliances with commercial banks in Hosur,'' a release quoted the Chairman as saying.
Since many SMEs (small and medium enterprises) were housed at Hosur, he felt that vendor development initiatives could be undertaken for technology upgradation of ancillary units in and around the region.
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