SIDBI (Small Industries Development Bank of India) is regulated by the Reserve Bank of India (RBI), which is the central bank of India. The RBI regulates SIDBI under the provisions of the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949.
In addition to the RBI, SIDBI is also regulated by the Government of India, which holds majority stake in the bank. The government has the power to appoint the Chairman and the Managing Director of SIDBI, and it also has the authority to issue directions to the bank on matters of policy.
Overall, SIDBI operates under the dual regulation of the RBI and the Government of India, and is subject to various regulatory and supervisory norms to ensure its stability and soundness.