Finance Minister Launches Targeted Digital Platforms and Capital Schemes to Fortify Indian MSMEs
The government unveiled the 'MoRE' (Modernisation of Rural Enterprises) scheme, aiming to provide structural, technical, and developmental support to 10,000 rural micro and artisanal enterprises over a three-year span.
A new Micro Credit Card Scheme was introduced, facilitating collateral-free credit access up to Rs 5 lakh for Udyam-registered units, backed by a 75% credit guarantee framework.
Additionally, the Union Cabinet sanctioned Rs 5,000 crore in equity capital to SIDBI to enhance its balance sheet capabilities, targeting an addition of 25 lakh new MSME beneficiaries by 2028.
Key Facts / Static GK
SIDBI Headquarters: Lucknow, Uttar Pradesh
SIDBI CMD: Manoj Mittal
MSME Contribution to Exports: Approximately 48%
Practice Quiz — 27 May 2026
Q1. Consider the following statements regarding the Reserve Bank of India's new governance norms for co-operative bank directors: 1. A mandatory cooling-off period of three years is applicable only to Urban Co-operative Banks (UCBs). 2. The maximum continuous tenure limit for co-operative bank directors has been extended from 8 years to 10 years. 3. During the cooling-off period, directors can still serve as regular consultants or advisory members of the same bank. Which of the statements given above is/are correct?
Q2. Who is the head of the 8-member expert committee 'Q-SAFE' constituted by the Reserve Bank of India to assess quantum technology risks in banking?
Q3. Under the newly launched Micro Credit Card Scheme for MSMEs, what is the maximum credit limit and the associated guarantee coverage available for Udyam-registered micro enterprises?
Q4. What is the name of India's first 300-km Universal Rocket Launching System flagged off by Defence Minister Rajnath Singh in May 2026?
Q5. Which of the following schemes were merged to form the Pradhan Mantri Anusuchit Jaati Abhyuday Yojana (PM-AJAY)? 1. Pradhan Mantri Adarsh Gram Yojana 2. Special Central Assistance to Scheduled Castes Sub Plan 3. Babu Jagjivan Ram Chhatrawas Yojana 4. Rashtriya Garib Kalyan Yojana
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