No stressed MSME loan to be declared NPA till March 2020: FM
India | September 19, 2019 20:39 ISTThe government on Thursday asked banks not to declare any stressed loan account of MSMEs as NPA till March 2020 and work on recasting their debt.
The government on Thursday asked banks not to declare any stressed loan account of MSMEs as NPA till March 2020 and work on recasting their debt.
"It is ranging from 25-27 per cent despite extension of deadlines. The GST Council will discuss the issue in its meeting on September 20," said an official.
Modi government will bring in a pension scheme for small shopkeepers while it has also increased credit guarantee coverage for Micro, Small & Medium Enterprises (MSMEs), President Ram Nath Kovind announced this in Parliament today. President was addressing a joint session of newly elected parliamentarians today.
The senior IAS officer said the scheme, approved by Chief Minister Devendra Fadnavis, envisages setting up one lakh units in five years, 40 per cent of them in rural areas.Kamble said this year's target is setting up of 10,000 micro-ventures to be set up by first-generation entrepreneurs.
Speaking at MSME Support and Outreach event in New Delhi, PM Modi described the 12 new measures as 'historic' that will make Diwali brighter for the sector and its millions of entrepreneurs and employees.
GST-registered MSMEs to get 2 per cent rebate on incremental loan of up to Rs 1 crore, PM Modi said.
The MSME sector constitutes a vast network of over 63 million units and employs 111 million people, contributing around 30 per cent to the GDP.
Micro, Small & Medium Enterprises (MSME) are by far the biggest employers in the country today. According to the latest annual report (2014-15) of the Ministry of Micro, Small & Medium Enterprises, there are an
Coimbatore: The Centre plans to set up 500 incubation centres on PPP model across the country in the next one year to create more skilled professionals, Minister of State for Micro, Small and Medium Enterprises
Mumbai: Specialised small businesses lender Sidbi today said the Reserve Bank's special Rs 5,000-crore refinance grant will cumulatively help in the flow of up to Rs 20,000 crore to the cash-starved micro, small and medium
Kolkata: West Bengal Chief Minister Mamata Banerjee yesterday said her government has decided to set up mega markets for farmers in all 18 districts of the state at a cost of Rs 150 crore for
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