New Delhi, Aug. 4 -- The Small Industries Development Bank of India (SIDBI) has expanded its nationwide presence by opening 71 new branches across the country while its direct credit outstanding portfolio for micro, small and medium enterprises (MSMEs) grew 36.8 per cent year-on-year, the Rajya Sabha was informed on Tuesday.

In a written reply, Minister of State for Finance Pankaj Chaudhary said SIDBI opened 71 new branches between April 1, 2024 and July 29, 2026 following the Union Budget 2024-25 announcement. The new branches have been established to serve major MSME clusters and strengthen direct credit delivery to the sector.

According to the reply, SIDBI's direct credit outstanding portfolio stood at Rs 51,687 crore as on March 31,...