Small and Medium Enterprises Current Affairs - 2020

SAFE Scheme: SIDBI provides working capital of Rs 1 crore to MSME

On April 8, 2020, the Small Industries Development Bank of India announced that it will provide emergency working capital of Rs 1 crore to small and medium enterprises.

SAFE Scheme

The SIDBI launched SAFE scheme on March 26, 2020. The SAFE scheme is SIDBI Assistance to Facilitate Emergency Response against Corona Virus. It is financial assistance programme for small and medium enterprises that are engaged in manufacturing. Under the scheme, the MSEs that are involved in manufacturing masks, hand sanitizers, head gears, gloves, body suits, ventilators, shoe-covers and goggles shall avail loan up to Rs 50 lakhs. This will help in addressing shortage issues of Personal Protective Equipment (PPE) in the country.

About the new initiative

Under the scheme, the SIDBI is to provide emergency working capital up to Rs 1 crore. This is being done as SAFE Plus initiative. The initiative is offered collateral free and will be disbursed in 48 hours.

KVIC distributes more than 1 lakh Bee-Boxes under ‘Honey Mission’

The Khadi and Village Industries Commission (KVIC) distributed more than one lakh bee-boxes among farmers and unemployed youths across India in less than two years under its ‘Honey Mission’ initiative. This is the first time such mass scale distribution of honey bee boxes has taken place in country.

About Honey Mission

  • It was launched in August 2017 in line with PM Narendra Modi’s call for ‘Sweet Revolution’ (revolution in production of honey to increase its production) in 2016 while introducing Banas Honey project at Deesa in Gujarat.
  • Under this mission KVIC provides beekeepers
    • Practical training about examination of honeybee colonies.
    • Acquaintance with apicultural equipments.
    • Identification and management of bee enemies and diseases.
    • Honey extraction and wax purification.
    • Management of bee colonies in spring, summer, monsoon, autumn and winter seasons.
  • So far, KVIC have created more than 10,000 new jobs and around 25,000 additional man days through fabrication of bee boxes and honey extractors.
  • KVIC would provide loans for setting up processing units, packaging units and labelling units for honey.
  • Importance: Production of healthy honey and wax, ands bee-keeping would open many job opportunities for unemployed youths and also for saspiring young entrepreneurs.
  • Under mission till date about 246 metric tonnes of honey has been extracted through these bee-boxes valuing over Rs 4 crore.
  • Earlier on 21 May 2018 on occasion of World Honey Bee Day, KVIC distributed 1,000 bee-boxes among 100 Mishing tribe in Kaziranga forest area in Assam and created a new world record of distributing maximum number of bee boxes in a single day.

About Khadi and Village Industries Commission (KVIC)

  • It is a statutory body formed under ‘Khadi and Village Industries Commission Act of 1956’ by Government of India.
  • It is an apex organisation under Ministry of Micro, Small and Medium Enterprises (MSME).
  • It is nodal implementation agency of Prime Minister Employment Generation Programme (PMEGP) at national level.
  • PMEGP is a major credit-linked subsidy programme being implemented by MSME Ministry since 2008-09 and will Continue till 2019-20. It aims to generate employment in India’s rural and urban areas.