On the 31st Dec 2016 Modi New year speech gives the surprise to small business. there is an announcement regarding the CGS which is increasing 2 Cr now. so Let’s learn how to apply for the Modi New Scheme Loan under the MSME.
Here is the participated Bank list – https://www.cgtmse.in/List_Of_MLIs.aspx
Key Announcement in New Year Speech of Narendra Modi :
– Home loans for poor and middle class people upto Rs 9 lakh will get 4 per cent subvention on interest and upto Rs 12 lakh will get 3 per cent subvention.
– For home loan in villages upto Rs 2 lakh for home renovation, banks will give loan with 3 per cent subvention on interest rate.
– Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.
– All pregnant women will get Rs 6,000 in their bank accounts in an attempt to reduce child and woman mortality.
– Government to pay interest for 60 days on loans taken by farmers for Rabi season from district cooperative banks and societies.
– Credit guarantee for small traders to be raised to Rs 2 crore from existing limit of Rs 1 crore.
– In the next 3 months, 3 crore Kisan credit cards will be converted to RuPay cards which will enable them to buy/sell directly through the card and there will be no need to rush to banks.