CURRENT AFFAIRS

Detailed explanation-1: -Small Industries Development Bank of India (SIDBI) in partnership with Foreign, Commonwealth & Development Office, UK (FCDO UK) has launched ‘Swavalamban Challenge Fund’ (SCF) to lend a helping hand to the entrepreneurs.

Detailed explanation-2: -SIDBI launches Swavalamban Challenge Fund to promote entrepreneurship culture in India - Small Industries Development Bank of India.

Detailed explanation-3: -Q. Which institution has launched the ‘Swavalamban Challenge Fund (SCF)’? Notes: Small Industries Development Bank of India (SIDBI) has launched the second window of Swavalamban Challenge Fund (SCF). The theme of the fund is ‘Green Bharat’.

Detailed explanation-4: -SIDBI offers Working Capital Assistance, Term Loan Assistance, Foreign Currency Loan, Support against Receivables, equity support, Energy Saving scheme for the MSME sector, etc.

Detailed explanation-5: -According to a press release issued by Sidbi, “The focus is on innovative projects addressing the green, clean, or efficient climate change. Other themes are sustainable livelihood, financial inclusion, and access to financial services and promoting the culture of entrepreneurship."