Mumbai, April 24: In a bid to help the stressed micro, small and medium enterprise (MSME) sector, the State-owned Bank of Maharashtra is looking out to roll out a plan at resolving 20-25 stressed MSME accounts under the pre-packaged insolvency resolution process. The news was announced by a senior bank official, a report by PTI […]
Tag Archives: MSME loans
MSME Credit Moves Towards Pre-Pandemic Levels, Witnesses a Growth of 5.7%: Report
The latest MSME Pulse Report by TansUnion CIBIL shows that the credit in the Micro, Small and Medium Enterprises have witnessed a growth owing to the support of central government’s Emergency Credit Line Guarantee Scheme (ECLGS). As per the recent report, the MSME credit grew by 5.7 per cent YoY and around 3.5 QoQ in […]
MSME Loans: Bank of Maharashtra Ties Up With LoanTap Credit for Co-Lending to MSMEs
Mumbai, February 9: In a bid to facilitate loans to micro, small and medium enterprises (MSMEs), the state-owned Bank of Maharashtra inked a pact with LoanTap Credit on Monday. In a statement, the Bank said that it has entered into a co-lending agreement with the Pune-based non-banking financial company LoanTap Credit Products to help MSMEs […]
MSME Sector in India Gets Major Boost As Banks Sanction Rs 2.05 Lakh Cr Loans to 81 Lakh MSMEs Under Credit Guarantee Scheme
New Delhi, December 12: With an aim to help the MSME sector which was impacted by disruptions caused due to the coronavirus pandemic, the Finance Ministry on Friday said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the […]
Big Relief for MSMEs! Ahead of Diwali, Govt Waives Interest on Interest for Loans Up to Rs 2 Crore to Help MSME Borrowers Amid COVID-19 Pandemic
New Delhi, October 25: With the onset of the upcoming festive season, the government announced a major relief to borrowers. The Modi government on Friday announced waiver of interest on interest for loans up to Rs 2 crore irrespective of whether moratorium was availed or not. Reports inform that the Department of Financial Services came […]
MSMEs in India Get Big Relief! Govt Ready to Waive ‘Interest on Interest’ on Loans Up to Rs 2 Crore During Moratorium
New Delhi, October 17: In a major relief to thousands of individuals and MSME borrowers in India, the Modi government announced that it is ready to waive ‘interest on interest’ on loan up to Rs 2 crore during moratorium. In an affidavit filed on October 3, the government informed the Supreme Court that it has […]
MSME Loans Update: Interest Subvention Scheme on MSMEs Loans Extended Till End of March 31, 2021
Mumbai, October 8: The Reserve Bank of India (RBI) announced that the two percent interest subvention scheme for micro, small and medium enterprises (MSMEs) on loans extended by co-operative banks has now been extended till March 31, 2021. Moreover, the terms of the scheme have also been tweaked. In November 2018, the government had announced […]