Nirmala Sitharaman announces collateral-free loans for MSMEs worth Rs 3 lakh crore

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In a bid to provide support to the struggling micro, small and medium enterprises (MSME) sector, Finance Minister Nirmala Sitaraman on Wednesday announced collateral-free automatic loan worth Rs 3 lakh crore. Addressing a press conference, a day after Prime Minister Narendra Modi's announcement of a R. Sitharaman said that these collateral-free loans come with four-year tenor and no repayment 20 Lakh Creore Economic Package, Sitharaman said that these collateral-free loans come with four-year tenor and no repayment (moratorium) for a period of 12 months. The minister said this will help 45 lakh MSME units across the country in resuming business activity and safeguarding jobs. This apart, the finance minister said that a Rs 20,000 crore subordinate debt will be provided for the stressed MSMEs. This she said would benefit around two lakh such businesses. In a bid to provide support to the struggling micro, small and medium enterprises (MSME) sector, Finance Minister Nirmala Sitaraman on Wednesday announced collateral-free automatic loan worth Rs 3 lakh crore. Sources : https://indianexpress.com/article/business/economy/nirmala-sitharaman-collateral-free-msme-loans-worth-rs-3-lakh-crore-6408130/ Apply for Udyog Aadhaar/MSME /SSI - Registration Click Here : https://www.taxohelp.com/msme

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