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Nirmala Sitharaman Launches National MSME Cluster Outreach Programme

Nirmala Sitharaman Launches National MSME Cluster Outreach Programme
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Nirmala Sitharaman Launches National MSME Cluster Outreach Programme

Key PointsDetails
EventLaunch of National MSME Cluster Outreach Programme by Nirmala Sitharaman
LocationBengaluru, Karnataka
OrganizersDepartment of Financial Services (DFS), Ministry of Finance, and Small Industries Development Bank of India (SIDBI)
Key DignitariesNirmala Sitharaman (Union Finance Minister), Jitan Ram Manjhi (Union MSME Minister, virtually present)
Virtual MSME Cluster Connection150 MSME clusters connected virtually
SIDBI New BranchesTumakuru, Raichur, Shivamogga, Kalaburagi, Mangaluru, Vijayapura (Karnataka)
Nari Shakti BranchesBengaluru, Chennai, Jaipur, Visakhapatnam
Canara Bank Learning CentreBagaluru, Bengaluru
MSME Credit TargetsAdditional Rs. 1.54 lakh crore (current fiscal); Rs. 5.75 lakh crore (FY 2024-25), Rs. 6.21 lakh crore (FY 2025-26), Rs. 7 lakh crore (FY 2026-27)
CollaborationsSIDBI signed MoU with Peenya Industries Association for MSME capacity building and credit facilitation
Sanction Letters DistributedRs. 25.75 crore to 11 SIDBI MSME customers; Rs. 11 crore to two Nari Shakti Branch customers
PMMY UpdateLoan limit increased from Rs. 10 lakh to Rs. 20 lakh (Union Budget 2024-25)
PMMY Tarun Plus AwardsFive Canara Bank borrowers awarded
Role of MSMEsInnovation, job creation, and contribution to India's self-reliance (as highlighted by FM)
Current Karnataka CMSiddaramaiah

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