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Reply To: The Union Budget 2022-23 & Credit Scheme

Gijare M
15 Feb 2022 @ 03:40pm

You can check your eligibility for taking this loan based on the following points –

  1. All micro and small businesses have taken a loan from various banks and the total outstanding loans amount across all loans is up to Rs. 25 crores as of 29.2.2020, and an annual turnover of up to Rs.250 crore in FY 2019-20.
  2. The Scheme is valid only for existing borrowers on the books of the MLI (Member Lending Institution).
  3. The micro or small business applying for this scheme must be GST registered in all cases where such registration is mandatory. This condition will not apply to MSMEs that are not required to obtain GST registration.