Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with Vijaya Bank for providing concessional finance to micro and small enterprises (MSEs).
The MoU aims at promoting and strengthening units in the MSE segment through concessional funding that is at the marginal cost of funds-based lending rate (MCLR) of Vijaya Bank under refinance from SIDBI.
The MoU also envisages joint financing/co-financing of MSMEs for meeting capital expenditure under the SIDBI Make in India Soft Loan Fund for Micro, Small & Medium Enterprises scheme at concessional rate of 9.60% along with working capital from Vijaya Bank.
What can be the possible questions of above news:
Q1. Name the Public lender, which has signed a MoU with SIDBI for providing concessional finance to micro and small enterprises (MSEs), recently
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Source- The Indian Express