SIDBI Launches New MSME Support Initiatives

SIDBI launched new initiatives to strengthen MSME credit, rural enterprises and technology adoption during its 37th Foundation Day celebrations.

Union Finance Minister Nirmala Sitharaman chaired SIDBI’s 37th Foundation Day celebrations in Mumbai. During the event, SIDBI launched initiatives including the SIDBI-RRB Co-Lending Platform, MoRE Programme, Micro Credit Card Scheme and SIDBI MachFin Mart. The MoRE Programme aims to support 10,000 rural micro and artisan units over three years. The Micro Credit Card Scheme allows Udyam-registered micro enterprises to access credit up to Rs 5 lakh with 75 percent guarantee coverage.