Manoj Mittal has officially assumed the role of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI), following his appointment by the Government of India. Prior to this role, Mittal served as the Managing Director (MD) of the Industrial Finance Corporation of India (IFCI).
With over 33 years of experience in the financial services sector, Mittal brings a wealth of knowledge and expertise to his new position. His career includes previous tenures as MD and CEO of IFCI and Deputy Managing Director at SIDBI. In an official statement, SIDBI expressed confidence in Mittal’s ability to lead the institution effectively.
The Financial Services Institution Bureau (FSIB) recommended Mittal’s name for the CMD position in April this year. Mittal joined IFCI in June 2021 after serving as Deputy Managing Director at Sidbi between February 2016 and January 2021.
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Mittal’s appointment marks a new chapter for SIDBI, with expectations of continued growth and support for the MSME sector under his leadership.
SIDBI was established on April 2, 1990, under an act of the Indian Parliament. It serves as the Principal Financial Institution for executing the triple agenda of promotion, financing, and development of the Micro, Small, and Medium Enterprises (MSME) sector and coordinating the functions of various institutions engaged in similar activities.
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