Added Development Measures for MSME

On World Micro, Small and Medium Enterprises (MSME) Day (June 27, 2021), the Small Industries Development Bank of India (SIDBI), has rolled out Multiple measures to support COVID-19 hit MSMEs.

Initiatives undertaken by SIDBI:

i.To enhance the credit access SIDBI has reduced the interest rate of the Timely Working Capital Assistance to Revitalise Industries in Times of Corona Crisis’ (TWARIT) scheme under ECLGS (Emergency Credit Line Guarantee Scheme) from 8.25 percent to 6 percent for its existing Customers.

ii.SIDBI signed a Memorandum of Understanding (MoU) with Government Engineering College Thrissur, Kerala to set up a Swavalamban Chair

For MSME solutions to promote entrepreneurship Among students.

ii. SIDBI has entered into an MoU with the ‘Global Alliance for Mass  Entrepreneurship’ (GAME) to

Help MSMEs.

About Small Industries Development Bank of India (SIDB):

It is the financial institution engaged in the Promotion, financing and development of MSMEs.

Establishment 1990

Headquarters Lucknow, Uttar Pradesh

Chairman & Managing Director – Shri

Sivasubramanian Ramann

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