Small Industrial Development Bank of India (SIDBI) has launched the Mahila Udyam Nidhi Scheme, which provides credit facilities and financial assistance to women entrepreneurs, who are into production, manufacturing, and service-related industries.

The first generation entrepreneurs, Micro and Small Enterprises (MSEs) do not have sufficient funds to finance their business and face the challenge of providing collateral security to the banks for extending credit facilities.

In a country like India with a population size of about 1.3 billion, the Micro, Small and Medium Enterprises (MSME) sector has a vital role in the economy.

Due to Covid-19 situation and to battle the coronavirus-induced financial distress the government announced various relief measures to increase liquidity in the hands of an individual.

They say that every crisis brings with itself an opportunity. Likewise, the Covid-19 pandemic brought with itself an opportunity for India, that was identified and announced by the Prime Minister of India as ‘Atmanirbhar Bharat’ or making India self-reliant.