Google and SIDBI Launch $15 Mn Financial Assistance Program

New Delhi : Thursday, November 18th, 2008 - Google and the Small Industries Development Bank of India joined forces to create a $15m (about Rs 110crore) financial assistance program that allows micro-enterprises to get loans of between Rs 25 lakh and Rs 1 crore at attractive interest rates.

It will help them invest in new equipment and production infrastructure.Sivasubramanian Ramann (Chairman and Managing Director of SIDBI), spoke on behalf of SIDBI at the 7th edition of the "Google For India" virtual event.

This program will give priority to women-owned companies and people involved in equipment production for fighting the pandemic.Collaborations between government and industry will be a big help in strengthening Prime Minister Narendra Modi and Indias "Atmanirbhar Bharat" mission.

We must work on skills, talent development and Indias capabilities to be a major digital economy player worldwide.Rajeev Chandrasekhar, Union Minister of State, IT, spoke at the event.

na/dp #Google #SIDBI #Launch #Financial #Assistance #Program #Delhi.