Q. Consider the following statements regarding “SAFE PLUS” scheme:
1. It is launched by SIDBI to provide interest free loans.
2. It has been especially introduced to provide emergency working capital against confirmed government orders.
Which of the statements given above is/are correct?
To help support the efforts to address the COVID-19 emergency, SIDBI is supporting MSMEs manufacturing products or providing services related to fighting the Coronavirus with the launch of two schemes- the SIDBI Assistance to Facilitate Emergency response against coronavirus (SAFE scheme) and SAFE Plus.
- Under the schemes, loans are being extended at a low rate of interest of 5% within 48 hours.
- SAFE Plus has been especially introduced to provide emergency working capital against confirmed government orders, with the same rate of interest of 5%.
Source: ForumIAS factly