The Centre has relaxed the eligibility criteria for micro, small and medium en
The Centre has relaxed the eligibility criteria for micro, small and medium enterprises under the credit guarantee scheme. The turnover ceiling has been raised to Rs 250 crore from Rs 100 crore, the upper ceiling of loans outstanding increased to Rs 50 crore from Rs 25 crore, and the guaranteed emergency credit line has been hiked to Rs 10 crore from Rs 5 crore, Finance Minister Nirmala Sitharaman and Financial Services Secretary Debashish Panda said on Saturday.
They also said that individual loans for business purposes, provided they fulfill the eligibility criteria, will now come under the credit guarantee scheme.
“After discussions with various industry bodies and stakeholders, and taking into account the headroom under the scheme, we have now decided to provide these criteria. The annual turnover ceiling has been increased in-line with the revised definition of MSMEs,” Panda said at an interaction with media persons in the Finance Ministry.
Sitharaman confirmed that all these changes were within…