Sidbi, Google tie-up to support MSMEs
The Hindu
This partnership with GIPL brings a corpus of $15 million (around ₹110 crore) to micro, small and medium enterprises (MSMEs) as a crisis response related to COVID-19, Sidbi said in a release
Small Industries Development Bank of India (Sidbi) on November 18 said it has entered into a partnership with Google India Pvt. Ltd. (GIPL) for piloting a social impact lending programme with financial assistance up to ₹1 crore at subsidised interest rates to MSMEs.
This partnership with GIPL brings a corpus of $15 million (around ₹110 crore) to micro, small and medium enterprises (MSMEs) as a crisis response related to COVID-19, Sidbi said in a release.
Under it, a loan programme targeted at micro enterprises (having turnover up to ₹5 crore), with loan sizes ranging between ₹25 lakh to ₹1 crore, is being implemented by Sidbi, the release said.
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