Eligible MSMEs to get offer of pre-approved loan under relief package
4 years, 7 months ago

Eligible MSMEs to get offer of pre-approved loan under relief package

The Hindu  

Eligible MSME borrowers will get an offer from their lending institutions for a pre-approved loan under the ₹3 lakh crore scheme announced for micro, small and medium enterprises to help them deal with the impact of COVID-19. As per a set of FAQs, GECL is a loan for which 100% guarantee would be provided by National Credit Guarantee Trustee Company to Member Lending Institutions — banks, financial institutions and NBFCs. The loan will be extended in the form of additional working capital term loan facility in case of banks and additional term loan facility in case of NBFCs to eligible MSMEs/ business enterprises and interested Pradhan Mantri Mudra Yojana borrowers. It seeks to provide much-needed relief to the MSME sector by incentivising lending institutions to provide additional credit of up to ₹3 lakh crore at low cost, thereby enabling MSMEs to meet their operational liabilities and restart their businesses.

Loan Crore Scheme Msme Institutions Eligible Cait Gecl  eligible  lakh  scheme  traders  package  provided  crore  msme  offer  relief  lending  preapproved  institutions  loan  msmes

History of this topic

Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore
19 hours, 33 minutes ago

Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore

The Hindu  

Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to ₹100 crore. "We are likely to come up with a scheme, which was announced by Finance Minister in her last Budget, that could provide loans up to ₹100 crore without guarantee, if they are …

Top 10 MSME Loan Schemes in India for Growth and Expansion
3 days, 2 hours ago

Top 10 MSME Loan Schemes in India for Growth and Expansion

India TV News  

Substantial steps have been taken by the Indian government and financial institutions to provide adequate loans for micro, small, and medium enterprises to foster growth without interruption. 3. Credit Guarantee Fund Scheme for Micro and Small Enterprises Small businesses often lack collateral when applying for loans, making them considered high-risk borrowers, which can result in loan application denials. To assist, …

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model
Trending News
1 month, 4 weeks ago

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model

ABP News  

Union Finance Minister, Nirmala Sitharaman, on Saturday said that a new credit assessment model by public sector banks will be rolled out soon. This model will help the Ministry of Micro, Small and Medium Enterprises get collateral-free loans of up to Rs 100 crore. Speaking at the National MSME Cluster Outreach Programme in Bengaluru, the FM said that the problems …

Centre to launch collateral-free term loans scheme for MSMEs, says FM Sitharaman
2 months ago

Centre to launch collateral-free term loans scheme for MSMEs, says FM Sitharaman

Hindustan Times  

New Delhi: The government is all set to launch a collateral-free term loans scheme for micro, small and medium enterprises to boost their manufacturing capabilities, finance minister Nirmala Sitharaman said on Saturday, adding that the scheme will be placed before the Cabinet soon. Introduction of a new credit guarantee scheme will have to go to the Cabinet “sooner” which will …

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’
3 months, 4 weeks ago

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’

The Hindu  

Micro, small and medium enterprises have taken ₹999 crore investments till July this year from the NSIC Venture Capital Fund, which has a corpus of ₹10,000 crore as ‘mother fund’, according to the National Small Industries Corporation. P. Ravi Kumar, chief general manager of the National Small Industries Corporation, said in Coimbatore on Tuesday that as part of the Self-Reliant …

MUDRA loan limit hike, credit guarantee scheme for MSMEs
5 months, 2 weeks ago

MUDRA loan limit hike, credit guarantee scheme for MSMEs

New Indian Express  

NEW DELHI: In their efforts to revitalise the ailing MSME sector, the backbone of the Indian economy and creator of crores of jobs, the NDA government has come up with a slew of reforms. Finance Minister Nirmala Sitharaman on Tuesday informed that the government is increasing the limit for MUDRA loans for Micro, Small and Medium Enterprises from Rs 10 …

MSME data will help policy-making, finds economic survey
5 months, 2 weeks ago

MSME data will help policy-making, finds economic survey

Deccan Chronicle  

Chennai: Improving the availability of data regarding the health of MSMEs will help policy-making, finds the Economic Survey. Updated IIP, production and employment data of MSMEs, information on credit disbursement, and industry-wise financial flows are some of them. Further, there should be information on industry-wise gross disbursement of bank credit as opposed to the data on outstanding credit currently available, …

SBI launches online quick loan solution for MSMEs
6 months, 1 week ago

SBI launches online quick loan solution for MSMEs

Live Mint  

Mumbai:Lender State Bank of India has unveiled a web-based digital business loans solution for MSMEs' Invoice Financing, aimed at facilitating MSME loans with a fast turn-around-time. The solution, named "MSME Sahaj - End to End Digital Invoice Financing", has been developed that will provide solutions ranging from applying the loan, documentation and disbursement of the sanctioned loan within 15 minutes, …

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs
11 months, 1 week ago

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs

News 18  

The recently released ‘The Indian Economy – A Review’ by the Department of Economic Affairs, Finance Ministry, has revealed a notable surge in industrial growth, showcasing a likely 8% per annum growth trajectory for the triennium ending March 2024. The report attributes this growth to strategic government initiatives, particularly emphasizing the success of ‘Make in India’, the Production-Linked Incentive scheme, …

FIEO seeks support for MSME exporting units
1 year, 3 months ago

FIEO seeks support for MSME exporting units

The Hindu  

The Federation of Indian Export Organisations has sought extension of the Emergency Credit Linked Guarantee Scheme till the end of March next year. In a meeting with Union Finance Minister Nirmala Sitharaman recently, FIEO president A. Sakthivel said the scheme that was introduced during the spread of COVID-19 was helpful to the Micro, Small and Medium-scale Enterprises. Hence, the scheme …

Sitharaman to meet heads of banks on Feb 22; on credit scheme for MSMEs: Report
1 year, 10 months ago

Sitharaman to meet heads of banks on Feb 22; on credit scheme for MSMEs: Report

Hindustan Times  

The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme to help businesses affected by COVID-19. ECLGS was announced as part of the Atmanirbhar Bharat Package in May 2020 with the objective to help businesses including MSMEs to meet their …

Revamped credit scheme to provide additional collateral-free credit for MSMEs
1 year, 11 months ago

Revamped credit scheme to provide additional collateral-free credit for MSMEs

Live Mint  

With her fifth budget, Finance Minister Nirmala Sitharaman proposed a special focus on the Micro, Small, and Medium Enterprises sector in the Union Budget 2023. The finance minister announced a revamped credit guarantee scheme to provide MSMEs with more collateral-free credit. According to the FM, the updated Credit Guarantee Scheme for MSMEs would go into operation on April 1, 2023, …

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs: FM
1 year, 11 months ago

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs: FM

Deccan Chronicle  

New Delhi: A revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1, Finance Minister Nirmala Sitharaman said on Wednesday. An integrated IT portal will be launched for reclaiming unclaimed shares and dividends, she said, adding the government would also set up a single window system for registrations and approvals in …

NPA percentage under ECLGS stood at 3.9% of loan guaranteed: MoS Finance Bhagwat Karad
2 years ago

NPA percentage under ECLGS stood at 3.9% of loan guaranteed: MoS Finance Bhagwat Karad

The Hindu  

The percentage of Non-Performing Assets of loan accounts under the ECLGS stood at ₹13,964.58 crore, or 3.89% of the loan guaranteed, Parliament was informed on Monday. Replying to a question, Minister of State for Finance Bhagwat Karad said the Emergency Credit Line Guarantee Scheme introduced in May 2020 as part of Aatmanirbhar Bharat Abhiyaan, had benefited 1.19 crore borrowers with …

Budget 2022: Govt's big emergency credit push | Top points
2 years, 11 months ago

Budget 2022: Govt's big emergency credit push | Top points

India Today  

Finance Minister Nirmala Sitharaman in her Budget 2022 speech on Tuesday announced that the Emergency Credit Line Guarantee Scheme that provided much needed additional credit to over 1.3 crore MSMEs will be extended till March 2023. Considering these aspects, the ECLGS will be extended up to March 2023 and its guarantee cover will be expanded by Rs 50,000 crore to …

Top 5 government business loan schemes in India in 2022
3 years ago

Top 5 government business loan schemes in India in 2022

India Today  

The Government of India initiates various schemes and policies to bring a change in the economic condition of the country. Here is the list of the top 5 government business loan schemes in 2022: Top 5 government business loan schemes in 2022: MSME Loan Scheme The loan was introduced by the Government of India focusing on the working capital loan …

ECLGS extension to benefit more MSMEs in Coimbatore district
3 years, 3 months ago

ECLGS extension to benefit more MSMEs in Coimbatore district

The Hindu  

The Central government’s decision to extend the Emergency Credit Line Guarantee Scheme till March 2022 is expected to benefit the Micro, Small and Medium-scale Enterprises in the district. Ramesh Babu said the association had sought extension of the scheme till March 2022. However, J. James, president of the Tamil Nadu Association of Cottage and Tiny Enterprises, said several micro and …

₹60,000-crore loan guarantee scheme for COVID-hit sectors yet to take off
3 years, 4 months ago

₹60,000-crore loan guarantee scheme for COVID-hit sectors yet to take off

The Hindu  

A ₹60,000-crore loan guarantee scheme for helping sectors hit the hardest by COVID-19 is yet to get off the ground, 52 days after it figured at the top of an economic relief package to cope with the second wave’s shocks. This proposed credit support was part of a new ₹1.1 lakh crore loan guarantee scheme for COVID-affected sectors, announced on …

Rs 60,000 crore loan guarantee scheme not yet notified
3 years, 4 months ago

Rs 60,000 crore loan guarantee scheme not yet notified

Deccan Chronicle  

Chennai: Covid-affected sectors, including hospitality, have not been able to benefit from the Rs 60,000 crore Loan Guarantee Scheme announced on June 28 as the finance ministry has not notified the scheme yet. Finance minister Nirmala Sitharaman had announced Rs 1.1 lakh crore loan guarantee scheme, of which Rs 50,000 crore was allocated to the healthcare sector and Rs 60,000 …

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights
3 years, 6 months ago

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights

Firstpost  

Nirmala Sitharaman press latest news: conference Key highlights: Today finance minister has announced, From Rs 23,220 cr for public health to free 5 lakh tourist visas, FM announces 8 major relief measures to boost COVID-affected sectors Addressing a press conference on Monday, Union finance minister Nirmala Sitharaman announced a slew of relief measures including an Rs 1.1 lakh crore loan …

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors
3 years, 6 months ago

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors

India Today  

Finance Minister Nirmala Sitharaman on Monday announced a credit guarantee scheme worth Rs 1.1 lakh crore for Covid-affected sectors. READ: Finance Minister Sitharaman's Rs 6.28 lakh crore Covid stimulus package | 8 announcements She also said that the interest rate on the new credit guarantee scheme is two per cent below the RBI prescribed rate, with a loan duration of …

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
3 years, 6 months ago

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India

News 18  

The small-scale business sector, also known as Small and Medium Enterprises sector, contributes around 40% to the total GDP of India. Here are the schemes offered by the government – MSME government business loan scheme – The Government of India launched this scheme as a working capital loan, and an MSME can get a loan sanctioned of Rs. MUDRA business …

RBI Loan Restructuring of up to Rs 50 Cr for MSMEs: Eligibility, Other Criteria
3 years, 7 months ago

RBI Loan Restructuring of up to Rs 50 Cr for MSMEs: Eligibility, Other Criteria

News 18  

In a bid to provide relief amid the second wave of COVID-19 pandemic, Reserve Bank of India announced doubling of loan restructuring limits for micro, small and medium enterprises and small borrowers to Rs 50 crore. “With a view to enabling a larger set of borrowers to avail of the benefits under Resolution Framework 2.0, it has been decided to …

RBI's Rs 16,000-Cr Gift to MSMEs; Loans of Up to Rs 50 Cr Can Be Restructured
3 years, 7 months ago

RBI's Rs 16,000-Cr Gift to MSMEs; Loans of Up to Rs 50 Cr Can Be Restructured

News 18  

In a bid to provide relief to micro, small and medium enterprises amid the second wave of coronavirus outbreak, the Reserve Bank of India on Friday extended a special liquidity facility of Rs 16,000 crore to Small Industries Development Bank of India. “To further support the funding requirements of micro, small and medium enterprises, particularly smaller MSMEs and other businesses …

Top news of the day: Public sector banks to lend up to ₹5 lakh for COVID-19 treatment; Monsoon arrival in Kerala delayed to June 3, and more
3 years, 7 months ago

Top news of the day: Public sector banks to lend up to ₹5 lakh for COVID-19 treatment; Monsoon arrival in Kerala delayed to June 3, and more

The Hindu  

Individuals including salaried, non-salaried and pensioners can avail unsecured personal loans from ₹ 25,000 to ₹ 5 lakh to meet COVID-19 treatment. Addressing party workers virtually on the seventh anniversary of the Narendra Modi dispensation at the Centre, the BJP chief said all party MPs, ministers and MLAs will serve people in at least two villages following COVID-19 protocols and …

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari
3 years, 11 months ago

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari

Live Mint  

MSME Minister Nitin Gadkari on Monday said under the Emergency Credit Line Guarantee Scheme, around 91 lakh guarantees have been issued till January 25 this year. In a written reply to the Rajya Sabha, he said during the current financial year, a total number of 31,923 units were setup under the ongoing Prime Minister Employment Generation programme and 5,21,746 guarantees …

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter
4 years, 1 month ago

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter

Live Mint  

Yes Bank aims to disburse retail and small business loans worth ₹10,000 crore in the current quarter of the financial year and plans to expand the portfolio to over 60% of its loan book by 2023, a top official said on Tuesday. Following the road map to become a truly digital retail bank, we are innovating constantly to meet these …

Loan moratorium | Centre informs Supreme Court it will repay additional interest by November 5
4 years, 2 months ago

Loan moratorium | Centre informs Supreme Court it will repay additional interest by November 5

The Hindu  

The Centre has informed the Supreme Court that the difference in the compound interest and simple interest charged for six months of moratorium period on eight categories of loans worth up to ₹2 crore will be paid back to borrowers by November 5, 2020. "The Central Government has directed that all lending institutions shall give effect to the scheme and …

[Loan Moratorium] Scheme Of Waiver Of 'Interest On Interest' For Eligible Borrowers Will Be Implemented By Nov.5: Centre Tells Supreme Court
4 years, 2 months ago

[Loan Moratorium] Scheme Of Waiver Of 'Interest On Interest' For Eligible Borrowers Will Be Implemented By Nov.5: Centre Tells Supreme Court

Live Law  

The Central Government has filed an affidavit stating that the Ministry of Finance has approved the policy decision for granting various reliefs for Covid pandemic, including a policy decision whereby waiver of interest on interest would be effectuated for eligible borrowers of loans up to Rs. The eligible borrowers under the scheme shall be on MSME loans, Education loan, housing …

Govt waives interest on interest for loans up to ₹2 crore
4 years, 2 months ago

Govt waives interest on interest for loans up to ₹2 crore

The Hindu  

In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for loans up to ₹2 crore irrespective of whether moratorium was availed or not. The Department of Financial Services came out with operational guidelines in the backdrop of Supreme Court’s direction to implement the interest waiver …

Good news for MSME, housing, education loan borrowers ahead of Diwali, govt likely to waive interest on interest
4 years, 2 months ago

Good news for MSME, housing, education loan borrowers ahead of Diwali, govt likely to waive interest on interest

India Today  

Ahead of Diwali, a category of borrowers with up to Rs 2 crore loan for MSME, housing, education and five other categories are likely to get some relief as the government is said to have decided to waive "interest on interest" on loans up to Rs 2 crore during the six-month moratorium period, announced by the Reserve Bank of India …

An incomplete solution: The Hindu Editorial on Centre borrowing for States to meet GST shortfall
4 years, 2 months ago

An incomplete solution: The Hindu Editorial on Centre borrowing for States to meet GST shortfall

The Hindu  

The past week witnessed some forward, albeit inexplicably delayed, movement towards breaking the deadlock between the Centre and States on bridging this year’s shortfall in cess collections to recompense States for adopting the GST. To recap — the Centre had argued that just ₹1.1-lakh crore of the estimated ₹2.35-lakh crore shortfall in GST cess inflows was due to GST implementation; …

GST: State welcomes offer, but wants to raise borrowing
4 years, 2 months ago

GST: State welcomes offer, but wants to raise borrowing

The Hindu  

Even while welcoming the Centre’s decision to borrow through a special window and provide back-to-back loans to the States in lieu of the Goods and Services Tax compensation, Kerala is putting pressure to borrow ₹1.70 lakh crore instead of the present offer of ₹1.1 lakh crore. Deferred payment “We have welcomed the Centre’s offer to borrow ₹1.1 lakh crore. Union …

"Their Diwali Is In Your Hands": SC Seeks Centre's Response On Implementation Of Benefits To Small Borrowers By November 2
4 years, 2 months ago

"Their Diwali Is In Your Hands": SC Seeks Centre's Response On Implementation Of Benefits To Small Borrowers By November 2

Live Law  

The Supreme Court on Wednesday pulled up the Centre as for its delay in implementation of their decision for providing benefits to small borrowers who had taken loans of up to 2 Crores.A bench comprising Justices Ashok Bhushan, R Subhash Reddy and MR Shah told the Centre that even though it had welcomed its decision of relieving the smaller borrowers, …

‘Centre’s, RBI’s stand in SC on loans is a big blow to MSMEs’
4 years, 2 months ago

‘Centre’s, RBI’s stand in SC on loans is a big blow to MSMEs’

The Hindu  

The Consortium of Indian Associations termed as a ‘big blow’ to micro, small and medium-sized enterprises the RBI’s affidavit in the Supreme Court pleading for vacating its stay order on the classification of NPA and the Centre ruling out further relief measures under the loan moratorium scheme. In a statement, he said, “The lockdown was implemented suddenly in national interest …

Govt Ready to Waive Interest on Loans Up to Rs 2 Crore, Says it’s the ‘Only Solution’ Amid Pandemic
4 years, 3 months ago

Govt Ready to Waive Interest on Loans Up to Rs 2 Crore, Says it’s the ‘Only Solution’ Amid Pandemic

News 18  

In a huge relief for individual and MSMEs borrowers, the central government on Friday told the Supreme Co urt that it will be waiving interest on the repayment of loans of up to Rs 2 crore, frozen by the RBI in a six-month moratorium granted because of the COVID-19 pandemic. “This category of borrowers, in whose case the compound interest …

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme
4 years, 3 months ago

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme

News 18  

The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1.86 lakh crore to 50 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme for the MSME sector, impacted by slowdown due to the coronavirus pandemic. "As reported on 29.09.2020, by 12 Public Sector Banks, top 24 Private Sector Banks & 31 NBFCs, …

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman
4 years, 4 months ago

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

India TV News  

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with …

Advocates, Doctors, CAs Now Covered Under MSME Loan Scheme
4 years, 5 months ago

Advocates, Doctors, CAs Now Covered Under MSME Loan Scheme

Live Law  

The Union Finance Ministry has expanded the scope of the MSME loan scheme announced in the wake of COVID-19 to include professionals like doctors, lawyers, chartered accountants and others, reported the Financial Express.The 3-lakh crore scheme was announced by Finance Minister, Nirmala Sitharaman, in May as part of Government's 'Athmanirbhar package' to help the Micro, Small and. The Union Finance …

Credit guarantee extended to larger firms, self-employed
4 years, 5 months ago

Credit guarantee extended to larger firms, self-employed

The Hindu  

The Centre has expanded its credit guarantee scheme for micro, small and medium enterprises to cover loans given to larger firms, as well as to self-employed people and professionals who have taken loans for business purposes, Finance Minister Nirmala Sitharaman said on Saturday. ₹87,000 crore disbursed So far, banks have approved ₹1.36 lakh crore worth of loans to 40 lakh …

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme
4 years, 5 months ago

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme

News 18  

The government on Saturday widened the scope of the Rs 3-lakh crore MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs 50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit. The finance minister said that the intended changes are likely to expand …

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme
4 years, 5 months ago

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme

Live Mint  

The Finance Ministry on Friday said public sector banks have sanctioned ₹19,668.87 crore to 71 MSME hubs across the country under the ₹3-lakh crore Emergency Credit Line Guarantee Scheme. "As of July 15, #PSBs have sanctioned loans worth ₹19,668.87 crore for 71 #MSME hubs in 27 States/UTs under the 100% Emergency Credit Line Guarantee Scheme, of which ₹12,871.50 crore has …

World Bank to support India's MSME sector
4 years, 6 months ago

World Bank to support India's MSME sector

India Today  

The backbone of India's economy, small businesses will take long to recover, the World Bank has zeroed in on the sector with a $750 million emergency response program and is working with the government on building a platform for MSMEs to get financiers to take on raised invoices -cutting through the delay that MSMEs face in receiving payments India's MSME …

PSU lenders are working to help MSMEs get easy loans
4 years, 6 months ago

PSU lenders are working to help MSMEs get easy loans

Live Mint  

Acknowledging that there is a disconnect between lending policies to micro, small and medium enterprises drafted by senior bank officials, and implementation at the branch level, public sector banks are now offering help to business owners to navigate through periods of stress. The MSME sector had a lot of sick units even before covid-related challenges at the operating level and …

Loans to MSMEs may get ‘risk-free’ tag
4 years, 7 months ago

Loans to MSMEs may get ‘risk-free’ tag

The Hindu  

The Reserve Bank of India is likely to allow banks to assign zero risk weight for loans that will be extended to the micro, medium and small enterprises under the ₹20 lakh crore economic package announced by the government earlier this month. After banks highlighted the issue with the government, the Finance Ministry asked the RBI to waive the requirement …

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others
4 years, 7 months ago

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others

India TV News  

State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months. "We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between …

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme
4 years, 7 months ago

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme

India TV News  

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and …

It’s only a pause, more steps to come to deal with covid-19 crisis: Anurag Thakur
4 years, 7 months ago

It’s only a pause, more steps to come to deal with covid-19 crisis: Anurag Thakur

Live Mint  

The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India ‘Atmanirbhar Bharat’, Minister of State for Finance Anurag Thakur said. Only this Sunday, he said, the government on the direction of Prime Minister Narendra Modi announced a comprehensive economic …

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs
4 years, 7 months ago

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

Firstpost  

The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs New Delhi: The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from …

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