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Sidbi to provide 90-day term loans for onward lending to small businesses

India city Mumbai covid-19 pandemic Government crisis
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MUMBAI: Following the ₹15,000 crore of liquidity facility from the Reserve Bank of India (RBI), the Small Industries Development Bank of India (Sidbi) has announced onward lending to small businesses, through banks, non-bank financiers and micro finance institutions (MFIs), to help them tide over the covid-19 crisis.

According to a circular issued to heads of commercial banks (including small finance banks), non-banking financial companies (NBFCs), and MFIs on 22 April, Sidbi said it was launching special schemes to support small businesses. “In the wake of covid-19 pandemic, the Reserve Bank of India has provided a Special Liquidity Facility (SLF) of ₹15,000 crore to Sidbi to enable it to provide liquidity support to micro, small and

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