Retailers, small businesses not registered as MSMEs eligible for emergency credit

The Rs 3 lakh crore emergency credit borrowing scheme for Micro, Small and Medium Enterprises (MSMEs) announced by the govt on May 12 will also cover retailers and other businesses.
Retail businesses devastated by the 62-day lockdown have been declared eligible for the scheme, although they are not recognised or registered as MSMEs.
Finance ministry sources say that the inclusion covers members of the nearly seven crore strong trading community.
The emergency credit line facility provides 100 per cent guarantee coverage by National Credit Guarantee Trustee Company (NCGTC) to member lending institutions or MLIs on up to Rs three lakh crore to eligible MSMEs.

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