MSME sector gets 3lakh crore collateral free loan to boost economy, jobs

by May 13, 2020 0 comments

Announcing the package for Micro, Small and Medium Enterprises (MSMEs), Finance Minister allocated Rs 3 lakh crores collateral-free automatic loans will be provided to MSMEs. Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover are eligible for this. The loan will have 4 year tenure and will have 12 month moratorium, she said. The minister said the measure will enable 45 lakh MSME units to resume business activity and also safeguard jobs.

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