International Journal of Trend in Research and Development, Volume 3(2), ISSN: 2394-9333

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Role of Small Industries Development Bank of India (SIDBI) in Industrial
Development in Gujarat State (With Special Reference to Small Scale Industries)
Prof. Dr. J.D.Savalia
Associate Professor, Department of Commerce, K.K.Parekh Commerce College Amreli, Gujarat, India

Abstract: The SIDBI banks being an important nerve of modern expeditious improvement of existing infrastructural facilities
organized society can play an important role in the SSIs and creation of new infrastructural facilities where there are not
transformation. They provide the infrastructure on which any. The small-scale sector has also proved capable in
agriculture; industries and trade of nation depend. They can absorption of latest advanced technology. Various policies and
allocate available resources by mobilizing deposits and programmes including those which are to be introduced will
advancing credit into the best possible uses according to enable this sector to be more productive more efficient and more
national priorities. By opening branches in un-banked and competitive. The small-scale sector today has to face
under-banked areas, the banks can spread magnetization, competition not only from multinationals but also from large
thereby introducing a larger market economy in place of natural domestic producers. The WTO regulation and removal of
economy. By providing loans to agriculture and small-scale Quantitative Restriction have further mitigated the problems of
sector they can solve the acute problems of unemployment and small-scale Industries. The need of the hour is Technology
under employment. Hence banks can rightly be called the upgradation.
nation’s agents of economic development. But in developing
countries like India the role of SIDBI is not confined to The research work has been divided into eight chapters. The
accepting deposits and advancing loans. They also accept, the first chapter is devoted for the “Introduction” Role of SIDBI in
accelerating flow of credit in accordance with the needs of SSI SSIs Development Special reference to SSIs Gujarat state. Small
development. They have shifted from restricted old conservative Industries Development Bank of India - “An Over View” in
policies to modern banking with lots of new techniques, which chapter two. A brief analysis of Research Design is given in the
brings dynamism and innovation in their functioning. third chapter. The fourth chapter deals with the SSIs
Development Special reference to SSIs in Gujarat state. A brief
The Government of India and the State government have been analysis Performance of SIDBI in Industrial Development of
pursuing a policy of protecting and promoting small-scale SSIs depicted in fifth chapter. Micro Analysis of Promotional
industries for a long time. Small-scale industries have been and Developmental Activities of SIDBI the sixth chapter.
accorded pride of place in the planned industrialisation process Analysis of Financial Position SIDBI is given in seventh
of the Indian economy, which is characterized by among other chapter. The impact of Conclusions and Suggestions is given in
factors low productivity in the SSIs abundant labour and eight chapter. Finally Bibliography and Journals, News Papers,
scarcity of capital. The comparatively easy dispersal of small- Reports and Web Sites are mentioned in this work.
scale industries in the rural and economically backward areas
has an added advantage of increasing incomes in these places.
They can contribute to production and generate employment I. INTRODUCTION
absorbing relatively a smaller amount of capital ensure a more SIDBI play a role in the growth and
equitable distribution of income and facilitate effective development of a country as it provides required infrastructure
mobilization of capital and skills which would otherwise remain for economic development of the country. In our country and
unutilized. our state a large population lives in villages and small city. The
world has become a global market. The impact of globalization
The first industrial estate was set up at Rajkot in Gujarat in
privatization privatization and liberalization has totally changed
September 1955 and the first shed was allotted in December
the style of banking sector in India. In India banking sector is
1955.The industrial estate programme combined all the
entering in several new activities SSIs. They do all the activities,
important schemes of assistance to small enterprises and
which can assist their customers. The more highly development
provided a tool for their integrated development. The primary
a country.
objective of the programme was rapid development of small-
scale industries. A secondary objective has been the dispersal of Small industries Development Bank of Indian
industries in rural and underdeveloped areas to raise their levels (SIDBI) Set up by an Act of parliament, is the principal
of industrialisation. With the progress of the scheme additional financial institution for the promotion, financing and
objectives like relieving the cities of congestion and development of industry in small, tiny and cottage sectors and
overcrowding slum clearance promotion of small-scale for co-ordinating the function of the institution engaged in
industrial units as ancillaries to large industrial units and similar activities, It commenced its operations on April 2, 1990
provision of opportunities of work for students in universities by taking over the outstanding portfolio and activities of SIDBI
and polytechnics in the pattern of “earn while you learn” were pertaining to the small scale sector. From a predominantly
added to the programme. refinancing institution; SIDBI has emerged as a major purveyor
of a wide variety of financial services to the small-scale sector.
The Government of India felt that in spite of various incentives
provided for backward areas by both the central and state A. The Problem
governments industrial growth in backward areas has not been
satisfactory mainly because of inadequacy of infrastructure. It The small-scale industries sector plays a vital role in the
therefore felt the need to have an institutional framework for growth of the country. It contributes almost 40% of the gross
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industrial value added in the Indian economy. It has been F. Limitations of The Study:
estimated that a 90 billions worth of goods or services with an
approximate value addition of ten percentage points. The small-  The study is based on secondary data taken from
scale sector has grown rapidly over the years. The growth rates published annual reports of SIDBI and other government
during the various plan periods have been very impressive. The publication and as such its findings depend entirely on
number of small-scale units has increased from an estimated the accuracy of such data.
0.87 million units in the year 1980-81 to over 3 million in the  There are different methods to presentation of various
year 2000. information by various financial institutions.
 The present study is largely based on financial assistance
For the development of small-scale industry appropriate provided by the SIDBI to the SSI sector only.
finance is the main requirement. After the liberalization and  The different views have been applied in the financial
globalization of Indian economy various multinational have policy of various financial institutions of India, which is
started his business in the India. In this situation to compete also applicable to the SIDBI.
with MNCs there is a need to provide adequate infrastructure
and financial assistance to the small-scale industries. For this II. INTRODUCTION
purpose central government and state government has Starting a business or industrial unit – say, enterprise in
established various financial institutions with the objectives of short-requires various resources and facilities. Small-scale
to provide financial and other assistance to medium and small- enterprises, given their small resources, find it difficult to have
scale industries of India. these own. Finance has been an important resource to start and
In the present study an attempt has been made to study the run an enterprise because it facilitates the entrepreneur to
role of SIDBI in the development of small-scale industries. procure land, labour, material, and machine and so on from
different parties to run his/her enterprise. Hence, finance is
B. Objectives considered as “life-blood” for an enterprise. Recognizing it, the
 To study the role of SIDBI in the development of SSI. Government through her financial institutions and nationalized
 To examine the position of SSI in Gujarat and analyze the banks, has come forward to help small entrepreneurs provide
role of SIDBI in the development of SSI. them funds. Admittedly, finance is an important resource but not
the only condition to run an enterprise. In order to start any
 To study the operational strategy of the SIDBI.
economic activity, a minimum level of prior built-up of
 To evaluate the financial position of SIDBI
infrastructure facilities needed. Financial assistance and
 To review the assistance provided by the SIDBI. concessions cannot, in any case, adequately compensate for
 To make suggestion for policy development of SIDBI. deficiencies on infrastructure such as transport and
C. Hypothesis for the Study communication. This is one of the reasons why industries have
not been developing in backward areas in spite of financial
The study is based on the following hypothesis: assistance and concessions given by the Governments to the
entrepreneurs to establish industries in backward areas. Creation
 The SIDBI has not been successful in the development of of infrastructural facilities involves huge funds, which the small
small scale Industry. entrepreneurs do lack. In view of this, various Central and State
 The SSI is not developed properly in the country due to Government institutions have come forward to help small
the inadequate financial support. entrepreneurs in this regard by providing them various kinds of
D. Universe of Study support and facilities. Availability of the institutional support
helps make the economic environment more conducive to
The universe of study consists of all the financial institutions business or industry.
working in India. For the purpose of study. I have tried to study
the role SIDBI in the development of SSI. III. OVER VIEW OF SIDBI
E. Period of Study, Data Collection and Data Analysis SIDBI was established on April 2, 1990. The Charter
establishing it, The Small Industries Development Bank of India
The study is based on secondary data taken from Act, 1989 envisaged SIDBI to be "the principal financial
published annual reports of SIDBI and other financial institution for the promotion, financing and development of
institutions. The published annual reports of institutions have industry in the small scale sector and to co-ordinate the
been collected from the registered and corporate offices of functions of the institutions engaged in the promotion and
respective institutions. The present study is made for seven financing or developing industry in the small scale sector and
years from 2006-07 to 2012-13. Various publication of SSI, for matters connected therewith or incidental thereto.
Government reports and financial institution publications have
been used for this purpose. Other information related to the The business domain of SIDBI consists of small-scale
industries have been collected from. The Economics Times, industrial units, which contribute significantly to the national
Financial Express, R.B.I. Bulletin, other periodicals, Journals economy in terms of production, employment and exports.
and from various Websites. Small-scale industries are the industrial units in which the
investment in plant and machinery does not exceed Rs.10
The collected data and information will duly edited, million. About 3.1 million such units, employing 17.2 million
classified and analyzed using all type of relevant tools persons account for a share of 36 per cent of India's exports and
techniques. 40 per cent of industrial manufacture. In addition, SIDBI's
assistance flows to the transport, health care and tourism sectors
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and also to the professional and self-employed persons setting IV. RESEARCH DESIGN
up small-sized professional ventures.
This chapter discusses the entire research design. It
SIDBI retained its position in the top 30 Development covers the problem of research. After the problem detailed
Banks of the World in the latest ranking of The Banker, London. review of literature provides the insight into the past research.
As per the May 2001 issue of The Banker, London, SIDBI On the basis of the study of literature the research objective has
ranked 25th both in terms of Capital and Assets. been developed. Later part of this chapter has focused on
hypothesis of study, source of data, period of study, tools and
SIDBI is committed to developing a strong, vibrant and techniques used in the study and limitations of the study.
responsive small-scale sector. This commitment is to be
achieved through a variety of means. Principal amongst them is V. SMALL SCALE INDUSTRIES IN GUJARAT
finance. Alongside finance, SIDBI provides appropriate support
Small-scale industries contribute significantly to
in the form of promotional and developmental services. SIDBI
social and economic development objectives such as labour
has been built up as a financially sound, vibrant, forward
absorption, income distribution, rural development, poverty
looking and technically oriented institution and, it intends to
eradication, regional balance and promotion of
sustain this orientation in future. SIDBI intends to provide
entrepreneurship. In fact they play an important role in the
quality services to its clients, devoid of any systemic and
process of a country’s industries development. Particularly in
procedural difficulties.
developing countries, small labour intensive industries have
SIDBI, in its operational strategy, emphasises: been favoured basically to create employment opportunities in
enhancement in the flow of financial assistance to SSIs and an economy with abundant unskilled labour even through such
enhancement in the capabilities of SSIs at all levels, with focus industries may not always be supported on grounds of economic
on adoption of improved and modern technology. The small efficiency. In addition, a low capital requirement, given an
industries sector in India is dominated by a large number of appropriate market environment, is believed to stimulate growth
small units. These micro-enterprises require special nurturing. of numerous indigenous industries with wide regional dispersal.
SIDBI has been operating schemes like: Single Window This helps to promote balanced growth, more equitable income
Scheme and Composite Loan Scheme To ensure that financial distribution, as well as diversification of the industrial structure
assistance is made available to such units on easy terms and with often leads to increased utilization of natural resources.
with hassle-free procedures. The process, if properly nurtured, can help the entrepreneurial
class and boost capital formation as well as growth of industries
It has been a matter of policy in SIDBI to identify the in the small sector in urban and rural area. Such a process
areas of gaps in credit delivery system and fill them through creates the basis for transformation of technology, management
devising appropriate new schemes and implementing them. In and paves the way for creative development while sustaining
the last 9 years, 26 new schemes have been introduced. national heritage and skills. It will also pave the way for the
growth of right type of entrepreneurship in the country. Gujarat
A. Development Outlook has been the front-runner in the overall economic development
The major issues confronting SSIs are identified to be: of the country all these years, as is evident from the fact that
with mere 6% of geographical area and 5% of the population of
 Technology obsolescence India, the state contributes to 21% of the country’s exports and
 Managerial inadequacies 6.42% of the national GDP at constant prices. If the decadal
 Delayed Payments growth of performance of some of the Indian states vis-à-vis
 Poor Quality other Asian economies with that of Gujarat are compared, one
 Incidence of Sickness gets quite an encouraging scenario. The industrial growth of
 Lack of Appropriate Infrastructure and Gujarat with a figure of 8.52% could be way ahead of many
 Lack of Marketing Network Indian states and other Asian Tigers viz. Singapore, Malaysia
and Korea. Gujarat - A leading state in manufacturing sector
There can be many more similar issues hindering the orderly over a period of time, the state has established itself as second to
growth of SSIs. Over the years, SIDBI has put in place none, especially in case of manufacturing sector. The State has
financing schemes either through its direct financing mechanism successfully carved out a formidable position for itself on the
or through indirect assistance mechanism and special focus national map of manufacturing sector, as is reflected from the
programmes under its P&D initiatives. In its approach, SIDBI status of dominance in many areas pertaining to manufacturing.
has struck a good balance between financing and providing
other support services. VI. PERFORMANCE OF SIDBI IN INDUSTRIAL
B. Shareholding: DEVELOPMENT OF SSIs

The entire issued capital of Rs.450 crore has been This chapter deals with the performance of the SIDBI
divided into 45 crore shares of Rs.10 each. Of the total Rs.450 in terms of financial assistance sanctioned by the SIDBI. The
crore subscribed by IDBI, while setting up of SIDBI, 19.21% main conclusions are as under.
has been retained by it and balance 80.79% has been transferred
1. It is observed that during the study period the financial
/ divested in favour of banks / institutions / insurance companies
assistance SIDBI has shown increasing trends in the amount
owned and controlled by the Central Government.
sanctioned and amount disbursed. In the year 1990-91 SIDBI
has sanctioned assistance of Rs. 2408.7 crore and it reached at

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Rs. 10903.5 crore in the year 2003-05. While in the year 1990- 16. Considering the various purposes SIDBI has sanction and
91 SIDBI has disburse assistance of Rs. 1838.5 cores and with disburses its assistance in new establishment of units, expansion
increasing trends it reached at Rs. 6789.4 crore in the tear 2003- / diversification / acquisition of units, modernization/ balancing
04 to 2004-05. equipment, rehabilitation, working capital and other assistance.
2. The growth in the amount of assistance sanctioned and 17. During the study period of 1999-2000 to 2003-05 SIDBI has
disbursed by SIDBI mostly shows positive trends. disburse total assistance towards various purpose Rs. 39711.5
3. Major financing of SIDBI has been in the form of direct crore against the sanctioned amount of Rs. 52045.6 crore.
finance, Refinance, Bill Finance and Loans to and investments 18. SIDBI has sanctioned and disburse maximum amount
in shares/bonds of FIs. towards the establishment of new projects followed by the
4. The total assistance sanctioned trends during the study modernization of the existing project. While for other purpose
indicates a fluctuating trends. In the year 1999-2000 SIDBI has SIDBI has disburse the total amount for the study period was
sanctioned assistance of Rs. 10264.7 crore and in the year it was Rs. 16247.4 crore.
Rs. 8246.3 crores. 19. According to the institute wise refinance assistance SIDBI
5. The amounts disburse by SIDBI during the study period were has sanctioned total assistance during the period of 1999-2000
always less than the amount sanctioned. It indicates that to 2003-05 was Rs. 26623.7 crore while it has sanctioned its
borrower has not utilized all sanctioned amounts. refinance assistance to the SFCs Rs. 15287.2 crore during the
study period. The total amount disburse by the SIDBI towards
6. During the study period of 1999-2000 to 2003-05 SIDBI has
the refinance assistance during the study period was Rs. 20870.5
sanction total assistance towards project finance was Rs. 5783.0
crore.
crore. While it disbursement amount was only Rs. 1764.5 crore.
It indicates very less has been utilized towards this scheme. 20. SIDBI has sanctioned its various forms of assistance through
the SSIs and SRTOs during the study period were Rs. 21597.1
7. SIDBI also provides non-project finance to the industries. It is
crore and Rs. 5026.6 crore respectively.
further divided into asset credit/equipment finance, working
capital/ short-term loans and equipment leasing. The trend of 21. SIDBI has disbursed its various forms of assistance through
amount sanctions towards this assistance shows decreasing the SSIs and SRTOs during the study period were Rs. 16065.1
trends. In the year SIDBI has provided finance towards this crore and Rs. 4805.4 crore respectively.
scheme was Rs. 1249.5 crore and in the year 2003-05 it was VII. ANALYSIS OF PROMOTIONAL AND
only Rs. 632.2, which is nearly 50% of the year 1999-2000. DEVELOPMENTAL ACTIVITIES OF SIDBI
8. Towards the refinance assistance SIDBI has sanctioned the The Small Industries Development Bank of India provides the
total assistance during the period of 1999-2000 to 2003-05 was following assistance under its promotional development
Rs. 63743.9 crore against of it SIDBI has sanctioned Rs. schemes, which will be highly useful to the development of
41014.5 crore only. small-scale industries in Gujarat.
9. In the scheme of bill finance the trends in sanction amount
and in disburse amount shows fluctuating trends. Total  Mahila Udhyam Nidhi
assistance sanction by SIDBI towards this scheme was Rs.  Enterprise Promotion with emphasis on Rural
16466.5 crore. Industrialisation
 Mahila Udhyam Mitra
10. The results of analysis of industry wise assistance
 Mahila Vikash Nidhi
sanctioned and disbursed by SIDBI shows that SIDBI has
sanctioned the maximum amounts to the service industry and  Entrepreneurship Development Programme
followed by infrastructure industry during the study period of  Management Development Programme
1999-2000 to 2003-05.  Small Industries Management Programme
 Small Skill-Cum-Technology Upgradation Programme
11. The table of state wise assistance sanctioned and disbursed
 Technology Upgradation
by SIDBI during the period of 1999-2000 to 2003-05 indicates
that the SIDBI has sanctioned and disburse maximum amounts  Quality and Environment Management
to the Maharashtra and followed by Tamil Nadu and Gujarat.  Fixed Deposit Scheme
 Market Promotion
12. The cumulative amount disburses by SIDBI to all the states
during the study period were Rs. 63514.6 crore against the
It is found that during the period the study the trends in
sanctioned amount of Rs. 94404.4 crore.
sanctioned and disburse amount by SIDBI towards promotional
13. The cumulative amount disburses by SIDBI during the study and developmental activities shown a increasing trends, which is
period to the Gujarat state were Rs. 6034.8 crores against the a good sign for small scale industries.
sanctioned amount of Rs. 9657.1 crore.
Under the mahila udyam scheme of SIDBI the trends in
14. The SIDBI provides the various assistance to the different
sanctioned and disburse amount shows a fluctuating trends.
sectors like public, joint, co-operative, private and trust. During
the study period of 1999-2000 to 2003-05 SIDBI has disburse In mahila vikash nidhi scheme of SIDBI shows fluctuating
cumulative amount of Rs. 39711.5 crore against the sanctioned trends during the study period in sanctioned and disbursement
amount of Rs. 52045.6 crore. amount.
15. The SIDBI has sanctioned and disburse the maximum Under the technology upgradation scheme SIDBI has sanctioned
assistance to the private sector followed by public sector and a huge amount in the tear 2003-04 as compared to earlier year.
trust.

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SIDBI has also sanctioned sufficient amount of funds under the 16. Margin ratio of SIDBI has also shown declining trend during
programme of Quality and Environmental Programme. the study period.

VIII. ANALYSIS OF FINANCIAL POSITION OF 17. The assets quality of SIDBI has been analyzed with the help
SIDBI of Standard Assets as percentage of Total Assets, Capital to
Risk Assets Ratio (%), and Debt-equity ratio.
As a financial analyst should not be interested in the 18. The Standard Assets as percentage of Total Assets ratio of
performance of a business enterprise during a short period of SIDBI has shown declining trends during the study period and
time because a organization which is financially sound today in last year it was 92 percent which indicates the NPA has been
may eventually lose its strength in the long period if it suffers increased during the study period.
prolonged losses. In this chapter financial position of SIDBI has
been analyzed with various angles. 19. The average Capital to Risk Assets Ratio of SIDBI was 39.3
percent and shown an increasing trends during the study period
1. The financial strength of SIDBI has been analyzed through which is a good sign for SIDBI.
Equity Paid Up, Net worth, Reserve Funds, Capital Employed,
Gross Block, Out Standing Portfolio, and Advance / Loans 20. The debt equity ratio has shown declining trends during the
Funds (%) ratio. study period.
2. During the study period equity paid up capital of SIDBI 21. The liquidity and turn over position of SIDBI has been
remains stable. analyzed through current ratio and loan turnover ratio.
3. Trends in the reserve surplus of SIDBI have shown an 22. The current ratio of SIDBI has been decreased during whole
increasing trend during the study period. study period but average current ratio of whole period of SIDBI
was 5.09 times indicates a satisfactory position.
4. The average capital employed in the SIDBI was Rs. 14326.78
during the study period. 23. The average loan turnover ratio of SIDBI was 0.12 times,
which was quite stable during the study period.
5. In the gross block of assets of SIDBI has shown fluctuating
trends. IX. SUGGESTIONS
6. Outstanding portfolio of SIDBI has shown decreasing trends  The total assistance amount sanctioned and disburse
during the study period. amount has shown a vast difference it should be minimize.
 During the study period sanctioned and disburse amount
7. Advance / Loans Funds (%) ratio of the SIDBI for the study for various assistance under various heads has been
period of 1999-2000 to 2003-05 was always more than 104 decreased which should be increase.
percent.
 SIDBI should make the collaborative efforts with
8. For the purpose of analysis in the present study following government to promote small-scale sector.
ratios were used i.e., Return on Capital Employed, Return on  SIDBI should make a good coordinate with various
Net Worth, Earning Per Share and Book Value Per Share. government agencies.
9. The result of analysis indicates during the study period ROCE  Need to announce the developmental policies for the
and RONW has shown declining trends. The average ROCE and small-scale sectors of India.
RONW during the study period were 7.1 percent and 5.40  For the technical competitive ness of small scale SIDBI
percent. should taken a initiative.
 SIDBI should create coordination between small scale and
10. Earning per share of SIDBI has shown decreasing trends in medium scale industries of India.
the first four years of study period and it slightly increase in last  In the developmental banking the SIDBI has been not
year of the study. came up with its aggressive policy, which is the need of
11. During the study period book value per share of SIDBI has present.
shown increasing trends in the first four years of the study  SIDBI policy should be developed with proper
period and in last years it remains stable. coordination of all regional office not at head quarts only.
 SIDBI should increase its branch with opening of new
12. The analysis of activity of SIDBI has been made through branches in the various parts of the country.
Total Income, Total Income / Capital Employed (%), Average  SIDBI assistance to various regions has shown imbalance,
cost of funds (%), and Margin (%) ratio. which should minimize. SIDBI assistance to various states
13. The total income trends of SIDBI has shown declining has also shown imbalance with should minimize.
trends during the study period.  SIDBI assistance to industry wise has also shown a vast
deviation, which should minimize.
14. The average ratio of total income to capital employed ratio
 SIDBI should also provide a various marketing assistance
of SIDBI was 10.40 percent and shown declining trends during
to small-scale sector of India.
the study period.
 Under the developmental and support assistance SISBI has
15. The average cost of funds of SIDBI was around 10 percent allocated very less funds that should be increased
in the first three years of study period and in last year it was 6.4  SIDBI should provide a financial assistance to
per cent. entrepreneur and small scale with a very low interest rates.

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References [9] The Financial express – “India best Banks” survey
2002
[1] http://www.sidbi.com [10] Bank Quest – December 2002
[2] http://www.idbi.com [11] IDBI bulletin – March 2002 & 2003
[3] http://www.rbi.orgin [12] IBA bulletin – Sept /Nov. 2002& Feb. 2003
[4] Report of Expert Committee on Small Enterprises by – [13] Business India – Dec. 2002
Dr. Abid Hussain [14] Economic & Political Weekly. Feb.2002
[5] Operation statistics –SIDBI (1995 – 2005) [15] The Indian Economic Journal, Mumbai,
[6] Report of Nayak Committee on Small Enterprises [16] Reserve Bank of India Bulletin, Mumbai,
[7] The Small Industries Development Bank of India Act – [17] Industrial Time – Mumbai,
1989 [18] The Banker –New Delhi,
[8] The Small Industries Development Bank of India
Amendment Act – 2000

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