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Centre To Implement ₹10,000 cr Fund Of Funds For MSMEs Soon: SBI Chief
The New Indian Express Chennai
|August 11, 2020
The Centre is all set to implement the Fund of Funds scheme meant to support Micro, Small and Medium Enterprises (MSME), according to State Bank of India (SBI) chairman Rajnish Kumar on Monday. The fund had been announced as part of the government’s Atmnirbhar Bharat relief package in May.
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“One is the immediate help for improving the liquidity of MSMEs; second, if unit is in trouble then support by way of subordinated debt which is guaranteed by the government, and third is the Fund of Funds which I presume would also get operationalised very soon,” Kumar said, listing the number of initiatives taken by the government for the struggling, pandemic-impacted MSME sector. He was addressing a virtual MSME Conclave organised by FICCI’s Karnataka State Council.
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