Question
Download Solution PDFIn 2021,which financial institution entered into a collaboration with Google India Pvt Ltd (GIPL) for piloting a social impact lending programme with financial assistance up to ₹1 crore at subsidised interest rates?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is SIDBI.
Key Points
- Small Industries Development Bank of India (Sidbi) has entered into a partnership with Google India Pvt Ltd (GIPL).
- It will pilot a social impact lending programme with financial assistance up to ₹1 crore at competitive interest rates to MSMEs.
- A loan programme targeted at micro-enterprises with loan sizes ranging between ₹25 lakh to ₹1 crore, is being implemented by SIDBI.
Important Points
- This partnership with GIPL brings a corpus of $15 million (around ₹110 crores) to micro, small and medium enterprises (MSMEs) as a crisis response related to Covid-19.
- This also marks SIDBI's launch of a paperless journey to its customers from onboarding to the disbursal stage.
- The major focus under the programme shall be on enterprises run by women entrepreneurs, with suitable interest rate concession also envisaged for such enterprises.
Additional Information
- SIDBI:
- Headquarters - Lucknow.
- Founded On - 2 April 1990.
Last updated on Jun 13, 2025
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