30 July, 2015

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Capital Infusion in MSME Sector

Capital Infusion in MSME Sector

To facilitate an easy access to finance by MSMEs, the Government/RBI has:

(i) launched Credit Guarantee Fund Scheme for Micro and Small Enterprises to provide guarantee cover for collateral free credit facilities extended to micro and small enterprises (MSEs) upto ₹ 1 Crore.

(ii) issued guidelines in mandatorily requiring banks to dispense with collateral requirement for loans upto ₹ 10.00 lakh to MSEs.

(iii) set up a Micro Units Development & Refinance Agency (MUDRA) Ltd. which would be responsible for refinancing all Micro-finance Institutions (MFIs), which are in the business of lending to micro / small business entities engaged in manufacturing, trading and services activities upto ₹ 10.00 lakh.

This information was given by the Union Minister for Micro, Small and Medium Enterprises, Shri Kalraj Mishra in a written reply to a question in Rajya Sabha here today.

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