Easy loans to MSMEs

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Easy loans to MSMEs
News and Press Release
Dated:- 22-12-2017

Government has taken several steps to extend easy loans to MSMEs, which inter-alia include, advise to all Scheduled Commercial Banks (SCBs) to achieve a 20% year-on-year growth in credit to Micro and Small Enterprises (MSEs) to ensure enhanced credit flow, allocation of 60% of the MSEs advances to the micro enterprise acco .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unts, a 10% annual growth in number of micro enterprise accounts, adoption of one cluster, operationalising at least one specialised MSME Branch in every district etc. In addition, a target of 7.5% of Adjusted Net Bank Credit (ANBC) has been prescribed for Micro Enterprises. SCBs have been mandated not to accept collateral security in the case of loans up to ₹ 10 lakh extended to units in th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e MSE sector and computation of working capital requirements of MSE units has been simplified to make it minimum 20% of the projected annual turnover of the unit. Small Industries Development Bank of India (SIDBI) has also launched the 'Udyamimitra' Portal (www.udyamimitra.in) as a universal loan portal to improve accessibility of credit and handholding services to Micro, Small and Medium Enterpr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ises (MSMEs). Through the portal, entrepreneurs can apply online for MSME loans upto ₹ 2 crore without physically visiting bank branches. Various Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies, Small Finance Banks and Financial Technology (Fintech) companies have been boarded on the portal. This information was shared by Shri Shiv Pratap Shukla, Minister of State for Fin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ance in Lok Sabha today.
News - Press release - PIB .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X