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Collateral free Loans for MSMEs - Rs. 3 lakh Crores

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The proposal of 3 lakh crores of MSME loans has been approved by the cabinet, it was announced by our Finance Minister Nirmala Sithraman. All the micro, small, and medium enterprises which are registered under MSME and having outstanding credit up to 25 crores and annual turnover below 100 crores are eligible to avail 20% of the existing loan as a loan amount and even those who have availed MUDRA loan(again who have registered under MSME) of maximum 10 lakhs can avail 20% of that amount as an MSME loan amount. It attracts a maximum of 9.25% in the case of banks and NBFCs with a maximum interest rate of 14%. In this video, C. S. Sudheer has explained about MSME loan in detail

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