The Small Industries Development Bank of India Act, 1989

The Small Industries Development Bank of India Act, 1989 was enacted to establish a development bank for providing financial assistance to small-scale industries in the country. The Act empowers the Small Industries Development Bank of India (SIDBI) to provide refinance assistance to small-scale industries, facilitate the flow of funds to such industries, and promote the development of small enterprises in the country. The Act outlines the functions and powers of SIDBI, its constitution, share capital, management, and other related aspects.