Union Minister for Finance and Corporate Affairs launches SIDBI initiatives and Credit Cards for Micro Enterprises

Key facts

• The Union Minister for Finance and Corporate Affairs launched several initiatives at the 37th Foundation Day of the Small Industries Development Bank of India (SIDBI) in Mumbai, highlighting a capital infusion of ₹5,000 crore by the Government of India (GoI).
• The GoI introduced the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to support Micro, Small and Medium Enterprises (MSMEs) affected by the West Asia conflict.
• The SIDBI RRB Co-Lending Portal was launched to operationalise partnerships between SIDBI and Regional Rural Banks (RRBs) to improve credit flow in rural and underserved areas.
• The SIDBI MachFin Mart was introduced as a digital platform for MSMEs to access machinery through a structured marketplace supporting price discovery, standardisation, technology adoption, and embedded loan sanction.
• The Modernisation of Rural Enterprises (MoRE) initiative aims to support 10,000 rural micro and artisanal units over the next three years through cluster-based interventions.
• The Department of Financial Services (DFS) launched the Credit Cards for Micro Enterprises programme, providing a limit of ₹5 lakh for Udyam-registered micro enterprises to access working capital financing.