New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday announced a Rs 3 lakh crores collateral-free automatic loans for businesses, including MSMEs.
This will enable 45 lakh MSME units to resume business activity and also safeguard jobs.
A decision has been taken that Emergency Credit Line to Businesses/MSMEs from Banks and NBFCs up to 20 per cent of entire outstanding credit as on 29.2.2020.
1. Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover eligible.
2.45 lakh unts can resume business activity and safeguard jobs.
A collateral-free automatic loan is being given to MSMEs, with a facility of ₹ 3 lakh crores
This will enable 45 lakh MSME units to resume business activity and also safeguard jobs
– FM #NirmalaSitharaman#AatmaNirbharBharatAbhiyan #EconomicPackage #AatmanirbharBharat pic.twitter.com/rGXBrqI5WD
— PIB in Maharashtra 🇮🇳 (@PIBMumbai) May 13, 2020
To provide stressed MSMEs with equity support, Government will facilitate provision of Rs. 20,000 crore as subordinate debt.
To provide stressed MSMEs with equity support, Government will facilitate provision of Rs. 20,000 cr as subordinate debt. #AatmaNirbharBharatAbhiyan pic.twitter.com/zNxbJUawiK
— PIB India (@PIB_India) May 13, 2020
Definition of MSMEs gets a revision, Investment limit to be revised upwards, additional criteria of turnover also being introduced#AatmanirbharBharat pic.twitter.com/euRNgiPJeB
— PIB India (@PIB_India) May 13, 2020
“Rs 50,000 cr. Equity infusion for MSMEs through Fund of Funds; to be operated through a Mother Fund and few daughter funds; this will help to expand MSME size as well as capacity,” said Sitharaman.
Rs 50,000 cr. Equity infusion for MSMEs through Fund of Funds; to be operated through a Mother Fund and few daughter funds; this will help to expand MSME size as well as capacity. #AtmaNirbharBharatAbhiyan #atmanirbharbharat pic.twitter.com/Y5FMC4TouI
— PIB India (@PIB_India) May 13, 2020
Global tenders to be disallowed in Government procurement up to Rs 200 crores. This will make self-reliant India, will also then be able to serve ‘Make in India’ said Finance Minister Nirmala Sitharaman.
Global tenders to be disallowed in Government procurement up to Rs 200 crores. This will make self-reliant India, will also then be able to serve 'Make in India': Finance Minister Nirmala Sitharaman pic.twitter.com/X8oi6RifVK
— ANI (@ANI) May 13, 2020
Govt of India and Central Public Sector Enterprises will honour every MSME receivable in the next 45 days.
