In a letter to Prime Minister Narendra Modi, Chief Minister Akhilesh Yadav has requested that the head office of Small Industries Development Bank of India (SIDBI) come up in Lucknow.
Akhilesh also has requested that the departments which had been shifted to Mumbai be relocated to Lucknow besides setting up chairman and MD’s office. In the past, 12 important departments of SIDBI were shifted to Mumbai in 2003.
In his letter, Akhilesh has stated that the step will speed up the development of the small industries in state. He has also mentioned that while SIDBI was formed in 1990, it was decided that Lucknow be chosen as the head office keeping in mind the “slow industrial pace of UP”.
Incidentally, SIDBI is the only financial institution established by the central government in the state. Residential buildings for the department officials were also established in Lucknow. Now, the SIDBI officials are posted in Mumbai for their personal interests and do not co-ordinate with the officials of the state government, the letter notes.