SIDBI, CSFB pact to help MSMEs avail loans at cheaper rate

Small Industries Development Bank of India (SIDBI) signed an agreement with the Capital Small Finance Bank (CSFB) to enable it to provide loans at a concessional rate to Micro, Small and Medium Enterprises (MSMEs) through a multi-pronged strategy comprising of concessional funding at MCLR of CSFB under refinance from SIDBI.

The MoU also envisages joint financing/co-financing of MSMEs for capital expenditure under ‘SIDBI Make in India Soft Loan Fund for Micro, Small & Medium Enterprises’, popularly known as SMILE, at a concessional rate of 9.60% by SIDBI

What can be the possible questions from above news:
Q1. SIDBI signed an agreement with the Capital Small Finance Bank (CSFB) to enable it to provide loans at a concessional rate to Micro, Small and Medium Enterprises MSMEs, recently. At what percent the concessional rate is…
Q2. What is the full form of SMILE?
Share your answer in the comment section
Source- The Economic Times

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