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

23 Sep

Quad grouping

'Prime Minister Narendra Modi arrived in the United States, where he will participate in the fourth Quad Leaders Summit in Wilmington, Delaware.' Quad s the grouping of four de

Read More

21 Sep

India Achieves Tier 1 Status in Global Cybersecurity Index 2024

' India has secured Tier 1 status in the Global Cybersecurity Index (GCI) 2024, published by the International Telecommunication Union (ITU).' The GCI is a comprehensive assessm

Read More

21 Sep

A new White Revolution

'Operation Flood, launched in 1970, ushered in the White Revolution and transformed the dairy sector in India.' Dairy cooperatives procured 660 lakh kg of milk per day in 2023-2

Read More

India’s First Ai-Driven Magazine Generator

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