AU Small Bank, SIDBI Launch Rs 200 crore Fund for MSMEs

AU Small Finance Bank tied up with Small Industries Development Bank of India (SIDBI) to launch a Rs200 crore fund for providing loans to micro, small and medium enterprises (MSMEs). 

The program will fund term loans in the Rs25 lakh to Rs2 crore ticket size. Under the advice of Sidbi, AU Bank will play the anchor in this program as all the processes including disbursement, monitoring and recovery will be handled by them. The appraisal of the proposal shall be done jointly by AU Bank and SIDBI.

Important Takeaways from above News for RRB PO Mains Exam-
  • Mannil Venugopalan is the Chairman of Board of AU Small Finance Bank.
  • Mohammad Mustafa is the present Chairman of SIDBI.
  • Headquarters of SIDBI is in Lucknow, Uttar Pradesh.
Source- The Livemint