Micro, Small and Medium Enterprises can avail Loan of 3% Interest

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.

It said micro and small enterprises that had availed term loans are eligible too.

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