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Collateral free Loans for MSMEs - Rs. 3 lakh Crores

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The proposal for 3 lakh crores of MSME loans have been approved by the cabinet and was announced by the Finance Minister Nirmala Sithraman. All the micro, small, and medium enterprises which are registered under the government and have an outstanding credit up to 25 crores and whose annual turnover is below 100 crores are eligible to avail 20% of the existing loan as the loan amount. The government acts as collateral and will repay the loan, in case anyone defaults. It attracts a maximum interest rate of 9.25% in the case of banks and 14% in the case of NBFCs. In this video, C. S. Sudheer has explained everything you need to know about MSME loan. Watch the video to know more.

 

 

 

 

 
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