India has over 12 million registered MSMEs. So, the Indian government has come up with numerous schemes that benefit MSMEs:
- MSME Business Loans in 59 Minutes, which gives credit ranging from ₹1 lakh to ₹5 crores.
- Growth Capital and Equity Assistance Scheme (GEMs. In this, the loan amount is usually at least ₹25 lakh.
- The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE) policy allows new and existing businesses to opt for a collateral-free credit.
- Credit Linked Capital Subsidy Scheme for Technology Upgradation, whereeligible businesses can receive 15% of capital subsidy.
- Prime Minister Employment Generation Programme (PMEGP) – provides credits from ₹5 lakh and up to ₹25 lakh.
- Pradhan Mantri MUDRA Yojana (PMMY) – Enterprises can receive up to ₹10 lakh from different financier intermediaries.
- National Small Industries Corporation (NSIC) Scheme – Single MSMEs can get credit up to ₹5 crore, at interest rates between 9.5% and 12%.
- Udyogini Scheme – businesswoman are eligible for loan quantum of up to ₹3 lakh.
- Stand Up India Scheme – here, the sanctionable credit is between ₹10 lakhs and ₹1 crore.
- SMILE Scheme – Under this scheme, new enterprises can get credit up to ₹50 lakh while existing enterprises can get a minimum of ₹25 lakh.
