The Centre has peaceful the eligibility standards for micro, compact and medium enterprises beneath the credit history promise plan. The turnover ceiling has been raised to Rs 250 crore from Rs one hundred crore, the higher ceiling of loans excellent enhanced to Rs 50 crore from Rs twenty five crore, and the assured crisis credit history line has been hiked to Rs ten crore from Rs 5 crore, Finance Minister Nirmala Sitharaman and Monetary Expert services Secretary Debashish Panda mentioned on Saturday.
They also mentioned that personal loans for small business reasons, furnished they fulfill the eligibility standards, will now appear beneath the credit history promise plan.
“After discussions with numerous industry bodies and stakeholders, and having into account the headroom beneath the plan, we have now decided to give these standards. The annual turnover ceiling has been enhanced in-line with the revised definition of MSMEs,” Panda mentioned at an