MSME promotion council vice chairman Dr C Suresh welcomed the decision by government of India under visionary leadership of prime minister sh Narender Modi ji.
The Indian government has recently updated the MSME loan scheme and implemented a new rule for it. Under the new rule, MSME companies will no longer need to go through the hassle of document verification for loans. Additionally, these companies will not require collateral for loans, making it a top-up loan.
According to the new rule, MSME companies will be eligible for loans up to 5 crore rupees. These loans will only require a guarantee of 0.37%, which is relatively low. Moreover, there will be no interest charged on these loans, making it highly advantageous for MSME companies.
MSME promotion council vice chairman Dr C Suresh said that the new rule has been implemented by the Indian government to provide loan facilities to small and medium-sized businesses. It will provide much-needed financial assistance to MSME companies that have been affected by the COVID-19 pandemic.
The new rule for MSME loans has been well received by entrepreneurs and businesses across the country. It is expected to provide a significant boost to the Indian economy, especially in the MSME sector, which has been struggling in recent times. This move by the government is a step in the right direction towards supporting small and medium-sized businesses and encouraging entrepreneurship in India.
