Swavalamban Express: Small Industries Development Bank of India (SIDBI) has recently announced to starting the Swavalamban Express train on June 5, 2020, This will travel in 11 entrepreneurial cities i.e. Jammu, Delhi, Varanasi, Ahmedabad, Mumbai, Hyderabad, Bengaluru, Kolkata, and Bhubaneswar.
Significance
- To empower small business aspirants among the Mission Swavalamban Express.
- The train journey would continue for 15 days and will cover distance around 7,000 km with 500 young and aspiring Swavalambis (or small-business aspirants) aboard and around 150 instructors.
- The target has been set to promote self-employment in India under several government schemes. The journey will be targeted at Prime Minister Modi’s vision of becoming a five trillion dollar [US] economy by the year 2024-25.
- Any person aged between 20 years to 35 years can participate and can apply who want to start their own business.
About SIDBI
Small Industrial Development Bank of India (SIDBI) is a financial institution, regulated by Reserve Bank of India & headquartered in Lucknow. Its focus is to provide refinance facilities and short-term loans to industries as well as the micro, small and medium enterprises (MSME) sector. The Chairman and Managing Director as of March 2020 is Mohammad Mustafa.
