SIDBI to raise Rs 10 K Crore “Stand Up India” Fund

Posted on:01 Mar 2016 09:37:18
SIDBI to raise Rs 10 K Crore “Stand Up India” Fund
01 March 2016 Current Affairs: The Small Industries Development Bank of India (Sidbi) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs. Sidbi Chairman and Managing Director Kshatrapati Shivaji said “We are working to have the corpus in place for the Stand Up India Fund corpus. It will be raised from the Reserve Bank through the priority sector lending shortfalls“.Under the scheme announced by Prime Minister NarendraModi earlier this year, each bank branch has been mandated to lend to one micro-enterprise promoted by a woman and SC/ST entrepreneur.
The Small Industries Development Bank of India (Sidbi) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs. Sidbi Chairman and Managing Director Kshatrapati Shivaji said “We are working to have the corpus in place for the Stand Up India Fund corpus. It will be raised from the Reserve Bank through the priority sector lending shortfalls“.Under the scheme announced by Prime Minister NarendraModi earlier this year, each bank branch has been mandated to lend to one micro-enterprise promoted by a woman and SC/ST entrepreneur.

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