SIDBI launches loan products for MSMEs to bolster supply for COVID-19 fight


PTI, Apr 30, 2021, 4:48 PM IST

New Delhi: To help the Micro, Small, and Medium Enterprises (MSMEs) with required financial support, SIDBI has launched two loan products at a concessional rate for ramping up the supply of products used in the fight against the COVID-19 pandemic.

These products will help augment supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs by MSMEs, Small Industries Development Bank of India (SIDBI) said in a statement.

The principal financial institution engaged in the promotion, financing and development of MSMEs has launched SHWAS (SIDBI assistance to Healthcare sector in War Against Second wave of COVID19) and AROG (SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID19 pandemic), two new quick credit delivery schemes, it said.

The schemes are devised under the guidance from Government of India which facilitates funding for production and services related to supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs, it said.

Second wave or massive resurgence of COVID-19 in the country has led to unprecedented burden on health infrastructure of the country.

SIDBI, considering the current distress caused by COVID 19 and being a national emergency, has devised these schemes to cater to help assist healthcare service providers fight against the pandemic.

These schemes envisage 100 per cent funding up to an amount of Rs 2 crore to a MSME unit at attractive interest rate of 4.5-6 per cent per annum, within 48 hours after receipt of all the documents or information.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Lone tusker spotted on NH-166 near Karkala, disrupts traffic

Lokayukta police summon Karnataka CM Siddaramaiah for questioning in MUDA case on Wednesday

Not ‘kaun banega mukhyamantri’ contest; MVA to name CM pick after polls: Jairam Ramesh

Related Articles More

SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees

Sensex plunges 942 points to settle at nearly 3-month low; RIL, HDFC Bank biggest drag

Equity investors become poorer by Rs 7.37 lakh crore during morning trade as markets tumble

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

Mcap of 6 of top-10 most valued firms jump Rs 1 lakh cr; State Bank, ICICI Bank top gainers

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Group clash in Indore after argument over bursting firecrackers: NSA slapped against 2 accused

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.