How will the special refinance facility of SIDBI work for the small industries?

In its May 22 policy, RBI cut repo rates by 40 bps to 4% and reverse-repo rates to 3.35%. But an interesting announcement was the special refinance facility to SIDBI for Rs.15,000 crore. SIDBI plays a key role in meeting the long-term funding requirements of small industries. In view of the tightening of financial conditions post COVID-19 pandemic and the difficulties in raising resources from the market, RBI announced this special refinance facility. In order to provide greater flexibility to SIDBI in its operations, it has been decided to roll over the facility at the end of the 90th day for another period of 90 days, so effectively this will be a special 180 days facility to ease the burden of repayment on the borrowers.