Office Address
123/A, Miranda City Likaoli Prikano, Dope
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+0989 7876 9865 9
+(090) 8765 86543 85
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info@example.com
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123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Speaking at the
National MSME Cluster Outreach Programme in Bengaluru, the FM said that the
problems faced by MSMEs would be solved after the latest credit guarantee
scheme is launched. This scheme will be introduced in the cabinet soon,
reported ANI. The Finance Minister said, “The grievance, which has
been for a very long time, is that MSMEs get working capital from banks, they
don’t get term loans, loans for plant and machinery. Now, with this guarantee, which was announced in the budget, for up
to 100 crores, the guarantee will be provided, even if you are going to borrow
more from the banks, for the first 100 crores, the guarantee will be given. And
therefore you are going there collateral-free to that extent.”
She explained that no third-party guarantee or collateral would be
required for these loans. The authorities will give the MSMEs the guarantee for
up to Rs 100 crore, the minister said.
“Now we have announced in this budget that banks will do the credit
assessment within themselves. Each bank will have their own credit assessment
model,” Sitharaman noted.
The minister also said that e-commerce trade hubs are being established
in partnership with private players which will help international trade and
export-related services. She added that 20 industrial clusters would be covered
with the opening of six new branches of Small
Industries Development Bank of India (SIDBI).
