The Small Industries Development Bank of India (SIDBI) has awarded INR 120.76 lakhs to the Kerala State Association of Financial Inclusion Institute (KASAFI), providing a considerable boost to the state's entrepreneurial scene.
The financial assistance was formally given away on November 25, 2023 at the Finance Ministry's credit extension event in Thiruvananthapuram. The sum was personally delivered to KASAFI President K. Paul Thomas by Finance Minister Nirmala Sitharaman, emphasizing the government's commitment to supporting economic empowerment.
This joint project of KASAFI and SIDBI is set to have a long-term effect by holding different training programs and seminars for women entrepreneurship development in major districts such as Wayanad, Palakkad, Thrissur, Ernakulam, Kollam, and Thiruvananthapuram.
In addition to the significant SIDBI investment, KASAFI is investing an extra INR 13,41,800 lakhs in the plan. The fundamental goal of the initiative, according to K Paul Thomas, is to empower 5000 women via financial help and training, opening the road for them to become successful micro-entrepreneurs. The inflow of capital is a key step toward strengthening the region's economic ecology and supporting long-term growth.
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