Twitter

Facebook

Youtube

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
  Rashtriya Sahara Roznama Sahara
Rs 3 lakh crore collateral free automatic loan for MSMEs: FN Sitharaman
Last Updated : 13 May 2020 05:03:19 PM IST
Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman

 

Finance Minister Nirmala Sitharaman on Wednesday announced collateral free automatic loans for businesses including MSMEs up to Rs 3 lakh crore.

Under the measure, borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover would be eligible for the special collateral free loan.
 
The loan will have a 4 year tenor with moratorium of 12 months on principal repayment and the interest will be capped.
 
There will be a 100 per cent credit guarantee cover to banks and NBFCs on principal and interest. The initiative can be availed till October 31, 2020, and no guarantee fee and fresh collateral would be required.
 
On the back of the scheme, 45 lakh units can resume business activity and safeguard jobs.
 
The move is part of the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on Tuesday evening.

It is one among the schemes announced by the Finance Minister on Wednesday.



IANS
New Delhi
For Latest Updates Please-

Join us on

Follow us on


What binds the two most talked about nations - India and Pakistan together? What makes the

Bollywood star Ranveer Singh and filmmaker Aditya Dhar seeked divine blessings at the Gold

LG Electronics Inc said on Wednesday that it will introduce new C with its artificial inte

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

172.31.16.186