Infrastructure

SIDBI partners with CoWE to give fillip to Stand-Up India

Read more at timesofindia.indiatimes.com

HYDERABAD: The Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of MSMEs, along with the Confederation of Women Entrepreneurs of India (COWE) on Tuesday announced the launch of ‘Swavalamban Sashakt – MEGA Campaign’.
As part of the campaign, a series of 20 webinars will be organised to generate awareness about the Stand Up India (SUI) scheme.
The webinars will also highlight the business opportunities that the scheme offers for various sections of society.
As part of the scheme, bank loans to the tune of Rs 10 lakh-Rs 1 crore will be offered to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or the trading sector. The scheme has now been extended up to FY 2025.
“Swavalamban Sashakt envisages to ignite the spark for business leadership among women entrepreneurs to start their entrepreneurial journey to become ‘Swavalambi’ – the job creator as against job seeker. The government has offered relaxations in the scheme on count of lower promoter contribution and adding agri-allied activities. We are hopeful that more and more rural and unserved segments will be reached out to in the coming days,” V Satya Venkata Rao, deputy managing director, SIDBI, said.

Read more at timesofindia.indiatimes.com

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