Page 33 - NIS English Aug 1-15, 2024

Special provisions for MSMEs

Loan Guarantee Scheme for MSMEs in the
Manufacturing Sector
MSME units for food irradiation,
n A loan guarantee scheme will be launched to facilitate quality, and safety testing
loans to MSMEs for the purchase of machinery and
equipment without any guarantee. The scheme
will operate based on the pooling of credit risks of
n Financial assistance will be provided for setting up
such MSMEs. A separately constituted self-financing
50 multi-product food irradiation units in the MSME
guarantee fund will provide, to each applicant, a
guarantee cover up to ₹100 crore, while the loan amount sector. Facilitation will be provided for setting up
may be larger. The borrower will have to provide an 100 NABL-accredited food quality and safety testing
upfront guarantee fee and an annual guarantee fee on laboratories.
the reducing loan balance.
E-commerce export hubs
New assessment model for loans to MSMEs
n E-commerce export hubs will be set up in Public-
n Public sector banks will build their in-house capability
Private Partnership (PPP) mode to enable MSMEs
to lend to MSMEs instead of external assessment. They
and traditional artisans to sell their products in
will also play a leading role in developing or getting a
international markets. Under a seamless regulatory
new loan assessment model based on the scores of the
and logistics framework, these hubs will facilitate
digital footprint of MSMEs.
trade and export-related services under one roof.
Loans to MSMEs during stress period
Critical Mineral Missions
n A new arrangement has been made to facilitate
continuation of bank credit to MSMEs during their stress n Critical Mineral Missions will be set up to promote
period. While being in the ‘special mention account’ domestic production of critical minerals, recycling,
(SMA) stage for reasons beyond their control, MSMEs
and acquisition of critical mineral assets abroad.
need credit to continue their business and to avoid
This will include technology development, a skilled
getting into the Non-Performing Assets (NPA) stage.
workforce, an extended producer responsibility
Credit availability will be supported through a guarantee
framework, and appropriate financial mechanisms.
from a government-promoted fund
Mudra Loan: Increased from Rs 10 lakh to Rs 20 lakh Integrated Technology Platform for IBC Eco-System
n The loan limit under the Tarun category of Mudra Loan n An integrated technology platform will be developed
has been increased from Rs 10 lakh to Rs 20 lakh. This for all stakeholders under the Insolvency and
loan will be given to those who have taken a loan under Bankruptcy Code to improve outcomes, consistency,
the 'Tarun' category and have successfully repaid the transparency, timely processing, and better
earlier loan.
supervision.
The turnover limit for mandatory onboarding reduced
National Company Law Tribunal
n To facilitate MSMEs to unlock their working capital, the
n IBC has resolved more than 1000 companies,
turnover limit for mandatory onboarding on the TReDS
leading to a direct recovery of more than Rs 3.3 lakh
platform has been reduced from Rs 500 crore to Rs
250 crore. This measure will bring 22 additional CPSEs crore. 28 thousand cases worth more than Rs 10
and 7000 more companies on the platform. Medium lakh crore have been settled before admission. To
enterprises will also be included in the supplier category. speed up insolvency resolution, suitable changes
SIDBI branches in MSME clusters will be made in IBC, and tribunals and appellate
tribunals will be reformed. They will be strengthened
n SIDBI will open new branches to serve all major MSME
and additional tribunals will be established. Some
clusters within 3 years and lend directly to them. With
tribunals will be notified to decide cases under the
the opening of 24 such branches this year, the service
coverage will increase to 168 out of 242 major clusters. Companies Act.

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NIS English AUG 1-15 2024 FINAL. Inf..indd 31 30-07-2024 17:21:14