The Small Industries Development Bank of India (Sidbi) has set up a Rs.1,000 crore `Make in India' fund to create a world-class manufacturing hub of MSMEs. The fund was announced by the bank's chairman Kshatrapati Shivaji at the bank's annual general meeting in Lucknow on Monday . Shivaji said that that the fund will be part of its direct lending business and would provide finance half a percent cheaper."The government has already named 25 sectors and identified borrowers who will be eligible under this scheme,“ he said. “While the `Make in India' fund is on the debt side we are also working on early stage financing and venture capital funding. We are coming out with a number of schemes including a fund of funds operations.“
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