New Delhi: In a move which will certainly be welcomed by a big section of the business community, the Union government on Friday revised MSME guidelines to include retail and wholesale trades under its ambit.
This will benefit around 2.5 crore retail and wholesale traders, who will henceforth get access to priority sector lending as per RBI guidelines.
“Retail and wholesale trade were left out of the ambit of MSME. Under the revised guidelines, MSME has issued order to include retail and wholesale trade as MSME and extending to them the benefit of priority sector lending under RBI guidelines,” Union Minister for MSME and Road Transport & Highways Nitin Gadkari tweeted.
“Under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth. The revised guidelines will benefit 2.5 Cr Retail and Wholesale Traders,” Gadkari wrote.
All businesses have been hit hard by the COVID-19 pandemic. Broadbasing MSME will help many revive their business by getting access to this lending facility.
On Monday, Union Finance Minister Nirmala Sitharaman extended the emergency credit line guarantee scheme (ECLGS) till September 30, 2021. Under ECLGS, MSMEs can get an additional 20% loans backed by a sovereign guarantee.
Bhubaneswar: Prime Minister Narendra Modi will campaign for BJP ahead of the first-round of elections…
Bhubaneswar: The Congress has nominated Biswabhusan Das, who had returned to the party from BJP…
New Delhi: A man in Bihar married his mother-in-law after the family after he had…
Bhubaneswar: The Railway Protection Force (RPF) seized more than 100 turtles while being transported in…
Berhampur: In order to help the college and university teachers in their research activities in…
New Delhi: The Congress party on Tuesday released another list of candidates for the ongoing…
New Delhi: A former Miss Ecuador contestant was shot and killed by two gunmen in…
Bhubaneswar: Another former MLA of BJD in Odisha resigned from the party on Tuesday after…