Sign In
Learn bits
Economy
Mahesh

01/05/21 09:45 AM IST

Shwas, Arog schemes

In News 

  • Small Industries Development Bank of India (SIDBI) — the principal financial institution focusing on micro, small, and medium enterprises (MSMEs) — has earmarked Rs 200 crore for its newly launched Shwas and Arog schemes for MSMEs manufacturing Covid-related goods.
Details 
  • Shwas caters to MSMEs manufacturing oxygen cylinders, oxy-generators, oxygen concentrators, liquid oxygen or providing services in transportation, storage, refilling to supply of these items.
  • Arog focuses on enabling credit for MSMEs in manufacturing of products or providing services which are directly related to fighting Covid including pulse oximeters, permitted drugs such as (Remdesivir, Fabiflu, Dexamethasone, Azithromycin, etc), ventilators, PPE kits, etc.
  • SIDBI have sanctioned applications involving Rs 90 crore loan amount so far and another set of applications worth Rs 83 crore loan is pending.
  • As demand evolves we will expand the corpus as well. Presently we have earmarked Rs 200 crore for the two schemes.
  • The scheme would continue till Covid exists and if there is a third wave ahead, the scheme would be revised based on the contours of the pandemic.
  • SIDBI had last year launched a similar scheme called SAFE for all MSMEs engaged in the manufacturing of hand sanitizers, masks, bodysuits, ventilators, testing labs, and other products.
  • “The Safe scheme closed on March 31, 2021.
  • Since this year, the oxygen was in short supply so Shwas was launched. 
Source- Financial Express

More Related Current Affairs View All

05 May

Key objectives of caste count

'The Union Cabinet has decided that the next Census will include questions on caste to its enumeration of India’s population, for the first time in almost a century. ' T

Read More

05 May

2 new genome-edited rice varieties

'Agriculture Minister Shivraj Singh Chouhan recently released two genome-edited varieties of rice, the first achievement of its kind in the country.' These two varieties, which

Read More

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps