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SIDBI Launched Two Loan Products for MSMEs

Published on May 02, 2021
Current Context: With an aim to grant financial support to MSMEs, the Small Industries Development Bank of India (SIDBI) has launched two new loan products which will promote, finance and develop MSMEs in India.
SIDBI Launched Two Loan Products for MSMEs
  • The two loan products are: (a) SHWAS (SIDBI assistance to Healthcare sector in War Against the Second wave of COVID19) (b) AROG (SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID-19 pandemic).
  • Both the schemes are quick to credit delivery schemes that will grant funds to supply oxygen cylinders, oxygen concentrators, oximeters and essential drugs to tackle pandemic situation of COVID-19 in India.
  • Both the schemes envisage 100% funding up to an amount of Rs 2 crore to an MSME unit at an interest rate of 4.50 to 6 per cent p.a., within 48 hours after receipt of all the documents and information.
  • Static Part: 
    • HQ of SIDBI: Lucknow, UP
    • Chairman and MD of SIDBI: Siva S Ramann

Question: 

Q.1 Which organisation launched SHWAS and AROG, the two loan products for the upliftment of MSMEs?
a. State Bank of India
b. Securities and Exchange Board of India
c. Small Industries Development Bank of India (SIDBI)
d. NABARD
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