The SIDBI (Small Industries Development Bank of India) is a wholly-owned subsidiary of IDBI (Industrial Development Bank of India), established under the special Act of the Parliament 1988 which became operative from April 2, 1990. SIDBI was made responsible for administering the Small Industries Development Fund and National Equity Fund that was administered by IDBI before. SIDBI is the Primary Financial Institution for promoting, developing, and financing MSME (Micro, Small, and Medium Enterprise) sector. Besides focussing on the development of the Micro, Small, and Medium Enterprise sector, SIDBI also promotes cleaner production and energy efficiency. SIDBI helps MSMEs in acquiring the funds they require to grow, market, develop, and commercialize their technologies and innovative products. The bank provides several schemes and also offers financial services and products for meeting the individuals requirements of various businesses. Therefore, SIDBI was set up as a subsidiary of IDBI to take over the functions of small business financing of IDBI.