Union Minister Nirmala Sitharaman has launched a series of Small Industries Development Bank of India (SIDBI)-backed strategic web portals and initiatives during its 37th foundation day celebrations in Mumbai.
The initiatives include the “SIDBI-RRB Co-Lending Platform” to facilitate collaborations between SIDBI and Regional Rural Banks (RRBs) to enhance credit flow to Micro, Small and Medium Enterprises (MSMEs) in semi-urban and rural areas.
The “Modernization of Rural Enterprises” (MoRE) Programme was also launched to support 10,000 rural micro and artisan units through cluster-based interventions over the next 3 years. Additionally, the “Micro Credit Card Scheme” for MSMEs allows Udyam-registered micro enterprises to access credit of up to ₹5 lakh with a 75% guarantee coverage and without the requirement of mandatory primary security.
