On International Women’s Day, SIDBI launches series of initiatives to empower women

SIDBI

Ludhiana, March 10, 2021 (News Team): Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSME), is empowering women across the country through its various initiatives like Stand-Up India, PM SVANidhi and initiatives under Corporate Social Responsibility (CSR).

Under the Stand-Up India scheme, which was started in April 2016, as on date over 91 thousand women have been sanctioned loans which accounts for 82 per cent of the total sanctions. During the current year, loans have been sanctioned to over 6 thousand women which contributes to 75 per cent of the total loans.

V. Satya Venkata Rao, Deputy Managing Director of SIDBI said, “On International Women’s Day, under our Mission Swavalamban, we are trying to reach unserved/underserved women across the country through various financial and non-financial access initiatives including promotional as also digital bouquets. As a development bank, we believe in continuously strengthening the ecosystem particularly for serving livelihood and micropreneurs.”

Also, on International Women’s Day, SIDBI unleashed 8 initiatives including arranging of Swavalamban Sashakt Programme in association with Confederation of Women Entrepreneurs of India (COWE), supporting NGOs in 4 states (i.e., Uttar Pradesh, New Delhi, Punjab and Nagaland),launching of ninth info series dedicated to aspiring women entrepreneurs.

Besides, SIDBI also organized a five-day food processing program for women prisoners of Nabha Jail in Punjab. The purpose of the program is to provide opportunities for the women prisoner inmates to engage them in fruitful pursuits during the term of their sentence and provide them livelihood opportunities as well through skill training on food processing.