Announcements for MSME sector: Highlights
Updated: Jul 05, 2019 06:14:49am
---- 50 crore rupees allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans
---- Payment platform for MSMEs to be created
---- A Payment Platform for MSMEs where they can upload the bills and process payment
---- Payment timing for MSMEs from Large Companies to be brought down
---- Pension benefit to be extended to around 3 crore retail traders and shopkeepers with an annual turnover less than 1.5 crores under Pradhan Mantri Karam Yogi Man Dhan Scheme
---- Loans up to Rs 1 crore for MSMEs within 59 minutes
---- Retail Investors to get access to invest in Government Securities / Treasury Bills
---- Existing Know Your Customer norms for Foreign Portfolio Investors to be rationalized and simplified, to make it more investor-friendly
---- Relaxation of KYC norms will better harness FPI investments
---- Local sourcing norms will be relaxed for FDI
---- Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place
---- Need to invest heavily in infra, digital eco & job creation in MSMEs