Small Industries Development Bank of India (SIDBI) has signed a MoU with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) and will provide direct funding to MSMEs and help them set up units in the Uttar Pradesh Defence Industrial Corridor (UPDIC).

• This arrangement will support MSMEs setting up industrial units in the State of Uttar Pradesh by meeting their credit needs as well as addressing credit-plus requirements, viz, knowledge inputs through dedicated web-portal, literature, events/webinars etc.
• Some of the important areas market in the arrangement include, when any allotment letter(s) for industrial land are issued by UPEIDA, it shall provide details of allottees to SIDBI.
• The bank will contact the allottees for their financial needs. On receipt of the duly filled in application, SIDBI will process the same as per guidelines.