SIDBI to expand MSME working capital portfolio, partners Yes Bank

Small Industries Development Bank of India (SIDBI) is looking to expand its working capital portfolio and has partnered Yes Bank to cater working capital needs of its Micro, Small and Medium Enterprise (SME) clients.

Under the pact, Yes Bank would provide various banking services, including working capital, to SIDBI customers at its pan-India branches, which currently number around 1100. A memorandum of understanding (MoU) was signed between SIDBI chief general manager K I Mani and Yes Bank group president (international and institutional banking) Arun Agarwal here this evening.

Currently, merely about 550 SIDBI customers avail of its working capital facility,