News:The Small Industries Development Bank of India(SIDBI) has launched the SIDBI Assistance to Facilitate Emergency response against Coronavirus (SAFE PLUS) Scheme.
Facts:
- Aim:To provide emergency working capital to MSMEs which are involved in making essential services directly related to fighting the coronavirus on the orders from the government/government agencies.
Additional Facts:
SIDBI:
- Small Industries Development Bank of India (SIDBI) was set up in 1990 under an Act of Indian Parliament.
- Aim:To act as the Principal Financial Institution for Micro, Small and Medium Enterprise(MSME) sector as well as for coordination of functions of institutions engaged in similar activities.
- Ownership:Shares of SIDBI are held by the Government of India and twenty- nine other institutions / public sector banks / insurance companies owned or controlled by the Central Government.
