Quick Summary
UNION FINANCE MINISTER SMT. NIRMALA SITHARAMAN PROPOSES EIGHT NEW MEASURES IN SUPPORT FOR PROMOTION OF MSMEs CREDIT GUARANTEE SCHEME FOR MSMEs FOR MAKING CAPITAL INVESTMENT IN THE MANUFACTURING SECTOR WITH COVER UPTO ₹100 CRORE PROPOSED PSBs TO DEVELOP NEW AND INDEPENDENT ASSESSMENT MODEL FOR PROV
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FAQ :
A new credit guarantee scheme will facilitate term loans for MSMEs in the manufacturing sector to purchase machinery and equipment without collateral or third-party guarantee, with cover up to ₹100 crore.
PSBs will develop their own independent assessment models, utilising digital footprints of MSMEs, to provide credit more accessibly, moving beyond traditional asset or turnover criteria.
A government-promoted fund will provide guarantees to facilitate the continuation of bank credit for MSMEs experiencing stress, helping them avoid Non-Performing Assets (NPAs).
Yes, the limit for Mudra loans has been enhanced to ₹20 lakh from ₹10 lakh for credit-worthy entrepreneurs who have successfully repaid previous loans.
The turnover threshold for buyers required to onboard the TReDS platform has been halved from ₹500 crore to ₹250 crore, expanding its reach to more companies and including medium enterprises as suppliers.
E-Commerce Export Hubs will be set up in a public-private partnership mode to facilitate trade and export services, enabling MSMEs and traditional artisans to sell their products globally.
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