SIDBI sanctions Rs 650-crore loan to AU SFB and Jana SFB
The Small Industries Development Bank of India (SIDBI) has sanctioned Rs 650 crore to two Small Finance Banks ,AU Small Finance Bank and Jana Small Finance Bank.
- They will use this fund to to provide loans to Micro Small and Medium Enterprises (MSME) and Micro Finance Institutions (MFIs).
- The financial assistance has been extended out of the Special Liquidity Facility sanctioned by the Reserve Bank of India.
- This liquidity line has been provided to SIDBI to meet the challenges being faced by the MSMEs due to the prevailing Covid-19 pandemic situation.
Headquarter of Jana Small finance Bank : Bengaluru
Headquarter of AU Small Finance Bank : Jaipur
- The Small Industrial Bank of India was set up in 1990 through an act of Parliament.
- It was set up as a principal Financial Institution for the promotion ,development and financing of Micro small and Medium Enterprises in India.
Headquarters : Lucknow
- It is owned by the Government of India .
For details about MSME and its contribution to the Indian Economy see the post of 12 December 2021.
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