Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs

Rs 3 lakh crores Collateral-free Automatic Loans for Businesses, including MSMEs.

In order to provide relief to Business In the press conference here today, Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman announced Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs

To provide relief to the business, additional working capital finance of 20% of the outstanding credit as on 29 February 2020, in the form of a Term Loan at a concessional rate of interest will be provided. This will be available to units with upto Rs 25 crore outstanding and turnover of up to Rs 100 crore whose accounts are standard. The units will not have to provide any guarantee or collateral of their own. The amount will be 100% guaranteed by the Government of India providing a total liquidity of Rs. 3.0 lakh crores to more than 45 lakh MSMEs