Product Country
Increase Font Size Decrease Font Size
Market News
Cabinet clears food processing scheme, fisheries package and free food grains allocation for migrants.
May 21, 2020

The cabinet approved key parts of the Rs 20 lakh crore Covid-19 relief package announced recently, including interest rate caps for credit to micro, small and medium enterprises (MSMEs) under the Rs 3 lakh crore credit guarantee scheme. The rates will be limited to 9.25% for banks and financial institutions and 14% for nonbanking finance companies (NBFCs).
The cabinet chaired by Prime Minister Narendra Modi approved seven of the 54 elements of the package already announced, including Rs 41,000 crore government support for the MSME credit guarantee scheme for FY21-24. All 54 parts may not require cabinet approval.

The Economic Times