SIDBI launches “Swavalamban Express” to promote business aspirants
On March 19, 2020, the Small Industries Development Bank of India (SIDBI) announced Swavalamban Express.
The Train is to visit 11 entrepreneurial cities. This includes Delhi, Jammu, Mumbai. Ahmedabad, Hyderabad, Bengaluru, Kolakata, Bhubaneswar and Varanasi. During the period, various workshops and programmes are to be organized. The train has been launched to fulfil India’s goal of 5 trillion USD by 2024-25.
The train is to cover more than 7,000 km in 15 days. It will connect small enterprises. There is no educational restriction for the journey. Any person between the age of 20 and 35 years can participate.
The SIDBI was established in 1990. It is one of the four All India Financial Institutions that are supervised and regulated by Reserve Bank of India. The other three include NABARD (National Bank for Agriculture and Rural Development), EXIM (Export Import Bank) and NHB (National Housing Bank).
Category: Economy & Banking Current Affairs