SBI to give loans to MSME to boost businesses
At present, every small and big industry in the country is struggling with the Corona crisis. Meanwhile, there has been news of relief for small businessmen. Now State Bank of India is going to help such small businessmen in the face of Corona crisis. SBI is now bringing a new loan scheme for these small and medium businesses.
10,000 crores will be allocated
The country’s largest bank State Bank of India has announced to release Rs 10,000 crore for small businessmen soon. This amount will remove the shortage of money of small and middle class businessmen (MSMEs) and get a chance to increase earnings. To help small businessmen, SBI Chairman Rajneesh Kumar said that ‘We had launched Gold Loan Scheme for Small Correspondents a few days ago. Through which a sum of 88 crore rupees was released to the traders within a month. This scheme received a great response. We are also considering continuing this further ‘
Preparation to make small traders ‘self-reliant’
In fact, 20 lakh 97 thousand crore rupees were announced in the self-sufficient India package by the central government. In May, Finance Minister Nirmala Sitharaman had promised to give Rs 50,000 crore from this fund to small and middle class businessmen (MSMEs). Businessmen too were eagerly waiting for the help of the government. Now SBI has confirmed that Rs 10,000 crore will be released from this fund soon. So that businessmen’s money shortage can be removed.
Which businesses will benefit?
The money given by the government will benefit those businesses which are new, whose business is in the initial stages and which has the potential to grow further. But to raise money, they do not have professionals nor venture capitalists like big companies. Finance Minister Nirmala Sitharaman while announcing the scheme for small traders (MSMEs) said that ‘this will increase these small companies in size and capacity, they will also be encouraged to get listed on the stock exchange’. With the first installment of the self-sufficient package of small businessmen in the Corona crisis, the hopes of the economy coming back on track will also increase.
