large scale image
LCP Image

Back to TSCFM News

SIDBI joins hands with Google to help MSMEs

November 19, 2021

SIDBI joins hands with Google to help MSMEs
Small Industries Development Bank of India, the financial institution engaged in the promotion, financing, and development of Micro, Small, and Medium Enterprises has entered into a partnership with Google for having a social impact lending programme with financial assistance of up to ₹100 lakh at competitive interest rates targeted at micro-enterprises.

This one-of-a-kind programme with Google brings a corpus of USD 15mn to micro-enterprises as a crisis response related to Covid-19 reinvigorate the MSME sector in the country. 

The partnership foresees a loan programme targeted at micro-enterprises, with loan sizes ranging between ₹25lakh and ₹1crore, being implemented by SIDBI. Major focus under the programme shall be on enterprises run by women entrepreneurs, with suitable interest rate concession also foresee for such enterprises. 
 
Shri Sivasubramanian Ramann, IA&IS, Chairman and MD at SIDBI said, “MSMEs are the life blood of the Indian economy serving as catalysts to economic growth and helping inequitable growth and social change. In-Line with SIDBI’s mandate and commitment to the sector to ensure the growth, we have launched various programs for an emergency response to the sudden pandemic”. 
Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp