PM Modi Launches 59 Minute Loan Sanction Portal for MSME that provides loan up to 1 Crore. You can think of it as some kind of Diwali Bonanza offer given by Prime Minister Narendra Modi to MSMEs out there. On Friday, Modi Government comes up with 12 Policies for Micro, Small and Medium Enterprises.
Any MSME who register themselves under GST also get 2% rebate on incremental loan. This new step not only generates new employment opportunities but also boost the Indian Economic condition.
Union Ministers from Modi Cabinet will visit 100 districts to start an awareness campaign about this facility for small businesses.
Besides these government ask all the companies whose turnover is more than 500 crore to register themselves in TReDS Platform. TReDS stands for Trade Receivables e-Discounting System. Government asks them to do so that cash flow problem won’t occur for MSMEs.
Moreover, Inspection of companies has now been done by inspectors who are allocated. It means now no any random inspect will reach at your factory or workplace for inspection.