BANKING AFFAIRS

Detailed explanation-1: -Under the advice of SIDBI, AU Bank will play the facilitating agency for the program as all the different processes including disbursement, monitoring and recovery will be managed by the AU Small finance bank .

Detailed explanation-2: -SIDBI helps MSMEs in acquiring the funds they require to grow, market, develop and commercialize their technologies and innovative products. The bank provides several schemes and also offers financial services and products for meeting the individual’s requirement of various businesses.

Detailed explanation-3: -Prayaas Scheme of SIDBI Disbursed More Than 276 Crore Loans to 18000 Small Entrepreneurs. Disbursement of over 276 crore loans to more than 18000 small entrepreneurs is recorded under the Prayaas Scheme of Small Industries Development Bank of India (SIDBI).

Detailed explanation-4: -Role of SIDBI SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.

Detailed explanation-5: -SIDBI is one of the four All India Financial Institutions regulated and supervised by the Reserve Bank of India; other three are India Exim Bank, NABARD and NHB.