New Delhi, 22/7: Union Minister Nirmala Sitharaman on Tuesday announced new mechanism for facilitating continuation of bank credit to MSMEs during their stress period without collateral or third party guarantee as she set out to present the Union Budget 2024.
The limit for Mudra loans have also been increased from Rs 10 lakh to Rs 20 lakh. Sitharaman also announced that the government will reduce turnover threshold of MSME buyers for mandatory onboarding on TReds platform from Rs 500 crore to Rs 250 crore
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