Question
Small Industries Development Bank of India (SIDBI), has
entered into a collaboration with Google for having a social impact lending programme with financial assistance up to what amount at competitive interest rates targeted at micro enterprises?Solution
Small Industries Development Bank of India (SIDBI), has entered into a collaboration with Google for having a social impact lending programme with financial assistance up to Rs 100 lakh at competitive interest rates targeted at micro enterprises. The partnership envisages a loan programme targeted at micro enterprises (having turnover up to Rs 5 crore), with loan sizes ranging between Rs 25 lakh to Rs 1 crore, being implemented by SIDBI. Major focus under the programme shall be on enterprises run by women entrepreneurs, with suitable interest rate concession also envisaged for such enterprises.
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