Govt notifies Rs 3 lakh crore MSME credit guarantee scheme
PrintListen to this Article
Under this scheme, MSMEs borrowers with up to Rs 25 crores of total borrowing can avail an additional 20 percent of the loan outstanding from banks, NBFCs, and other financial institutions (FI). This incremental lending by banks and financial institutions of up to Rs 3 lakh crore in total will be 100 percent guaranteed by the Government of India.
Borrowers will have a one-year moratorium of repayment, and the interest rate charged by banks/FIs will be capped 9.25 percent, and at 14 percent in the case of NBFCs. The scheme is also aimed at helping stressed borrowers who are not in default, therefore borrowers with standard accounts (with timely repayment), SMA-0 (with overdue of up to 30 days) and SMA-1 (with overdubs of up to 60 days) are eligible to take these loans.
The government will set up a Rs 41,600 crore fund under National Credit Guarantee Trustee Company Limited (NCGTC) for this scheme. Here are some Frequently Asked Questions (FAQ) on Guaranteed Emergency Credit Line of Rs 3 lakh crore. #casansaar (Source - MoneyControl)
Category : General | Comments : 0 | Hits : 465
Retirement fund body EPFO has said it will no longer use Aadhaar as a valid document for proof of date of birth. In an official circular on January 16, the Employees' Provident Fund Organisation (EPFO) said the decision to remove Aadhaar was taken following a directive from the Unique Identification Authority of India (UIDAI). As per the circular, Aadhaar is also being removed from the list of documents for correction in date of birth.
A five-day-long Special Parliament Session will be held from Monday. A Parliamentary Bulletin said, that on the first day a discussion on the Parliamentary Journey of 75 years starting from Samvidhan Sabha - Achievements, Experiences, Memories, and Learnings will be held in Lok Sabha. The Government has listed Bill on the appointment of the Chief Election Commissioner, and other election commissioners in the upcoming Parliament Session. Apart from this The Advocates (Amendment) Bill, Th...
Artificial intelligence can substitute neither the human intelligence nor the humane element in the adjudicatory process, the Delhi high court has held and said ChatGPT can't be the basis of adjudication of legal or factual issues in a court of law. Justice Prathiba M Singh stated that the accuracy and reliability of AI generated data is still in the grey area and at best, such a tool can be utilised for a preliminary understanding or for preliminary research. The court's observati...
Domain + Website + Hosting + 2 email ids @ Just Rs.3100/- with 30 days Money Back Guarantee. CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to choose. It will be completely your own space, which is going to be a Dynamic Website and could be edited as per your wish. Now Get 2 Email ID's with Your Own Websi...
The Delhi High Court Monday sought the Centre’s stand in a plea against a notification where chartered accountants, company secretaries and cost accountants have been included among “reporting entities” under the Prevention of Money Laundering Act (PMLA) A division bench of Chief Justice Satish Chandra Sharma and Justice Sanjeev Narula granted time to Additional Solicitor General Chetan Sharma, who appeared for the Centre, to “seek instructions” and listed the ma...
Comments