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Centre announces Rs 3 lakh crore collateral free computerized loan for MSMEs

NEW DELHI: Finance minister

Nirmala Sitharaman

on Wednesday announced Rs 3 lakh crore collateral free computerized loan for companies, together with MSMEs.

This would possibly maybe presumably presumably support 45 lakh miniature companies, she stated detailing parts of the Rs 20 lakh crore

economic stimulus

equipment.

The loan can like 4-year tenure and would possibly maybe presumably like 12-month moratorium, he stated.

Moreover, Rs 20,000 crore subordinate debt shall be equipped for stressed out MSMEs, she stated together with this would possibly maybe support 2 lakh such companies.

The finance minister stated that a fund of funds for

MSME

is being created, which will infuse Rs 50,000 crore equity in MSMEs with boost potentials.

Moreover, MSME definition has been modified to enable objects with funding up to Rs 1 crore to be known as micro objects in command of Rs 25 lakh now.

Moreover objects with turnover up to Rs 5 crore to be known as micro objects, she stated, together with a turnover based totally mostly criteria is being launched to outline miniature companies.

The funding and turnover limits for miniature and medium companies like likewise been raised to enable them to care for up fiscal and numerous benefits, she stated.

World tenders shall be banned for presidency procurement up to Rs 200 crore, she stated, together with this would possibly maybe support MSMEs to compete and present in govt tenders.

In Video: Rs 3 lakh crore collateral-free computerized loans for MSMEs and companies: FM Sitharaman

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