SIDBI to extend direct funding facility to Village Level Entrepreneurs in CSCs

Small Industries Development Bank of India (SIDBI) signed a memorandum of understanding (MoU) with the special purpose vehicle that operates common service centres (CSE SPV) for providing financial support to CSCs across the country.

Common Services Centers (CSC) scheme is one of the mission mode projects under the Digital India Programme. CSCs are the access points for delivery of services to citizens. Through the MoU, SIDBI seeks to extend financial support to the village level entrepreneurs (VLEs) of common services centers, with a minimum one year of operation, under the direct financing window of SIDBI.

CSC SPV will approve the list of VLEs, within 25km distance of SIDBI branch offices, who require financial support. To avail the loan, the VLEs need to submit their CSC project, with maximum project outlay of Rs3.50 lakh and term loan requirement not exceeding Rs2 lakh per project.
Through the MoU, both CSC SPV and SIDBI seek to work together to bring more citizens under the ambit of financial inclusion. It also seeks to enhance the financial viability of CSCs by including additional services in their bouquet of products.

Shri Ravi Shankar Prasad, Honourable Minister of Electronics & IT, Govt. of India, Shri Ajay Prakash Sawhney, Secretary, MEITY, Shri Dinesh Kumar Tyagi CEO, CSC SPV, Shri Pankaj Kumar, Additional Secretary, MEITY, Shri Sanjay Goyal, CGM, SIDBI, Ashok Kumar Pandey, General Manager, SIDBI, and other dignitaries were present on the occasion.