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Current Affairs

SIDBI to Provide Emergency Working Capital to MSMEs

Current Context: The Small Industries Development Bank of India (SIDBI) will facilitate with an emergency working capital of up to Rs 1 crore against their confirmed government orders to Micro, Small and Medium Enterprises (MSMEs).
SIDBI to Provide Emergency Working Capital to MSMEs
  • Also, the SIDBI Assistance to Facilitate Emergency response against coronavirus (SAFE) loan limit has been increased to 2 crores from Rs 50 lakhs.
  • For this SIDBI has launched a new loan product i.e. SIDBI Assistance to Facilitate Emergency response against Coronavirus (SAFE) plus which will be provided collateral free and disbursed within 48 hours at an interest rate of 5%.
  • Under its flagship scheme called SIDBI Make in India Soft Loan Fund for Micro Small and Medium Enterprises (Smile), SIDBI has opened an additional financial window for the healthcare sector.

Static part:

  • HQ of SIDBI: Lucknow
  • Chairman & Managing Director of SIDBI:Mohammad Mustafa.

Question:

Q.1 Small Industries Development Bank of India (SIDBI) announced to provide emergency working capital of up to ______ for Small and Medium Enterprises (SMEs).
a. 50 Lakh
b. 25 Lakh
c. 2 crore
d. 1 crore
SIDBI to Provide Emergency Working Capital to MSMEs SIDBI to Provide Emergency Working Capital to MSMEs Reviewed by Neha Verma on April 10, 2020 Rating: 5

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