Home Current Affair April 2020 SIDBI will provide Emergency Working Capital to Small & Medium Enterprises (MSMEs)

SIDBI will provide Emergency Working Capital to Small & Medium Enterprises (MSMEs)


  • In an official announcement, the Small Industries Development Bank of India (SIDBI) has said that it will provide Emergency Working Capital to Small and Medium Enterprises (MSMEs) of Rs 1,00,00,000/-.
  • Highlights,
    - It will be distributed within 48 hours. And, the loans will be offered at an interest rate of 5%.
    - The bank also said that the limit of SAFE loans announced a few days back has been enhanced from 50 lakh rupees to two crore rupees.
    - This scheme has been launched to provide financial assistance to MSMEs engaged in the manufacturing of hand sanitizers, masks, gloves, headgear, bodysuits, shoe-covers, ventilators, etc.
  • SIDBI,
    - Small Industrial Development Bank of India (SIDBI) is a development financial institution in India that was formed on 2nd April 1990. Its headquarter is in Lucknow, Uttar Pradesh, India.
    - At Present, the Chairman and Managing Director of SIDBI is Mohammad Mustafa.

Published On : 08 Apr 2020

Current Affair
Related Content
Jobs by Education
Advertisement
Advertisement