IDBI provides direct finance by way of term loans, both in rupees and foreign currencies besides providing support by way of underwriting and direct subscription to shares/ debentures and in the form of deferred payment guarantees. It also refinances term loans given by state-level institutions/banks to medium scale units and rediscounts/ discounts bills of exchange and promissory notes arising out of sale/ purchase or machinery and equipment. IDBI also extends loans to and makes investments in shares and bonds of various financial intermediaries. In response to the growing needs of various segments of industry and on-going changes in the financial sector, IDBI has been taking several steps to re-orient its business strategies and expand the range of its products and services. Besides asset-based financing and equipment leasing, IDBI also provides merchant banking, debenture trusteeship and forex services to cater to the varied needs of the clients. The Bank continued to undertake a wide range of promotional activities relating to programmes for new entrepreneurs, consultancy services for small and medium enterprises and programmes designed for accredited voluntary agencies for economic upliftment of the underprivileged. Its wholly-owned subsidiary, Small Industries Development Bank of India (SIDBI) provides assistance to the small scale sector.