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19/01/2022 04:56pm

SIDBI grants Rs 650 cr to two small finance banks to boost MSME lending in interiors of India

image SIDBI grants Rs 650 cr to two small finance banks to boost MSME lending in interiors of India

New Delhi, Jan 19 (KNN) The Small Industries Development Bank of India (SIDBI) has sanctioned Rs 650 crore to AU Small Finance Bank and Jana Small Finance Bank. 

The amount has been provided as financial assistance to enable credit access to more Covid-hit micro and small enterprises (MSEs) via low rated or unrated small non-banking financial companies (NBFCs) and microfinance institutions (MFIs).

The already sanctioned amount is INR 530 crore has already been released to these small finance banks.

It has been extended from the Special Liquidity Facility of INR 16,000 crore sanctioned to it by the Reserve Bank of India to help MSMEs.

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