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Small Industries Development Bank of India (Sidbi) on Monday said its net profit rose by 19.5 per cent to hit an all-time high of Rs 4,811 crore in the 2024-25 financial year. The Lucknow-headquartered bank had earned a net profit of Rs 4,026 crore in the previous financial year. During the year, Sidbi's balance sheet crossed Rs 5.6 lakh crore, the bank said in a statement. The asset base grew by 8.7 per cent to Rs 5,68,238 crore as of March 31, 2025, from Rs 5,22,521 crore as of March 31, 2024. The loans and advances portfolio rose by 8.8 per cent to Rs 4,96,282 crore from Rs 4,56,015 crore in FY24, it said. The bank earned an income of Rs 38,511 crore, up 20.6 per cent over the previous year. Earnings per share increased to Rs 84.62 in FY25. Regarding asset quality, it stated that the Gross NPA and Net NPA ratios stood at 0.04 per cent and nil, respectively, as of March 31, 2025. The bank's annual general meeting held on Monday approved a dividend of 20 per cent for ...
Fintech major PhonePe on Wednesday signed an MoU with SIDBI to offer an end-to-end digital solution through the Udyam Assist Platform (UAP) to empower micro enterprises and merchants. The collaboration aims to formalise Informal Micro Enterprises (IMEs) across India by providing them with digital-first Udyam Assist registration, which enables them to access benefits including government schemes, credit facilities, and the broader digital payments ecosystem. The MoU was signed in the presence of Union Minister for Micro, Small and Medium Enterprises, Jitan Ram Manjhi. "Our partnership with SIDBI will unlock access to government schemes, credit facilities, and crucial benefits for MSMEs and will help contribute to India's economic vision. Through PhonePe's user-friendly and efficient, end-to-end digital solution, we're not just facilitating registration, we are translating the vision of empowering small and micro businesses into a seamless digital reality," PhonePe Pending CEO Hemant