MSMEs can avail of back-ended interest subsidy scheme at 3% rate

MADURAI: Micro, Small and Medium Enterprises taking loans for modernisation programmes can now avail of a back-ended interest subsidy scheme at the rate of 3 per cent.

Under the scheme, Rs 10 lakh will be given for each enterprise. Modernisation should be in specified sub-sectors/products listed in the guidelines of the credit-linked subsidy scheme of the central government and units assisted by micro/small industries funding and the Credit Guarantee Fund Trust Scheme ( CGFTS) of the Centre, an official press release said here.

It said micro and small enterprises that had availed term loans under technology upgradation/modernisation schemes, the national equity fund scheme, schemes for ISO certification, research and development under the NSIC-SIDCO consortium and CGFTS were eligible.

New enterprises that had established facilities or existing MSMEs that upgraded existing plants with modern technology and induction of improved technologies are also eligible.