Cabinet approves equity support to Small Industries Development Bank of India

January 21st, 12:17 pm

The Union Cabinet, chaired by PM Modi, has approved equity support of Rs. 5,000 crore to the Small Industries Development Bank of India (SIDBI). This will be infused into SIDBI by the Department of Financial Services (DFS) in three tranches, with the number of MSMEs to be provided financial assistance expected to reach 102 lakh by the end of FY 2028. This will result in an estimated employment generation of 1.12 crore.

2% Interest Subvention approved on prompt repayment of Shishu Loans under Pradhan Mantri MUDRA Yojana for a period of 12 months

June 24th, 04:02 pm

Union Cabinet chaired by PM Narendra Modi approved a scheme for interest subvention of 2% for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers. The scheme will help small businesses brace the disruption caused due to COVID-19.