SIDBI INITIATED A NEW LOAN SCHEME (TWARIT)

  The Ministry of Micro, Medium, and Small Businesses (MSME) has been affected by the unusual situation caused by COVID-19 and the resulting lockdown. The Small Industries Development Bank of India (SIDBI) has launched the TWARIT (Timely Working Capital Assistance to Revitalize Industries in Times of Corona Crisis) Scheme to help MSMEs stay afloat during the crisis. The SIDBI intends to provide relaxation to the MSME sector as part of this Program by offering 20percent of overall outstanding loans up to INR 25 crore. The TWARIT Scheme of SIDBI is defined in detail in this article. Timely Working Capital Assistance to Revitalize Industries in Times Of Corona Crisis, as previously mentioned, is a unique solution to the extraordinary situation created by the COVID-19 pandemic. The Timely Working Capital Assistance to Revitalize Industries in the Times of Corona Crisis Scheme aims to provide much-needed assistance to MSME units whose operations have been harmed by COVID 19. ELIGIBILITY...