Atmanirbhar Bharat Abhiyan – Frequently Asked Questions
Q.1. What is the total package of MSME loans offered under Atmanirbhar Bharat Abhiyan?
The total package of Rs. 3 lakh crore that is backed by a government guarantee is offered under Atmanirbhar Bharat Abhiyan.
Q.2. Who can apply for the ‘Emergency Credit Line’ announced under the Atmanirbhar Bharat Abhiyan package?
MSMEs with Rs 100 crore turnover and outstanding loans of up to Rs 25 crore with banks and NBFCs can apply for the ‘Emergency Credit Line’ with their existing lenders. This credit line is only available against their existing ‘standard’ loan accounts i.e. loan accounts not identified as NPA by their lenders.
Q.3. What is the maximum loan amount available under the ‘Emergency Credit Line’?
MSMEs can borrow up to 20% of their outstanding loan amounts as on February 29, 2020.
Q.4. Are the MSME loans offered under this scheme collateral-free?
Yes, MSME loans offered are collateral free, including 12 months of moratorium period. Eligible MSME borrowers will not be required to submit any fresh collateral for availing MSME loans.
Q.5. What is the repayment tenure of the emergency credit line?
The ‘Emergency Credit Line’ to MSMEs will come with a loan tenure of 4 years with a 12-month moratorium on principal repayment. Borrowers will have to just pay the interest component during the moratorium period. They can start repaying their principal component after the completion of the moratorium period.
Q.6. What is the validity of the Emergency Credit Line?
Eligible MSME borrowers can apply for the ‘Emergency Credit Line’ till October 31, 2020.
Q.7. What is the liquidity amount offered as subordinate debt for NPAs and stressed MSMEs?
The government of India shall facilitate provision of Rs. 20,000 crore for NPAs and stressed MSMEs.
Q.8.What is the package announced for CGTMSE that shall further offer partial support to banks?
The financial support provided to CGTMSE will be Rs. 4000 crore form them to provide support to banks.
Q.9.What is the amount of equity infusion for MSMEs through fund of funds?
Equity infusion for MSMEs will be Rs. 5000 crore through fund of funds.
Q.10. Is there any cap introduced for global tenders related to MSME sector?
Yes, global tenders up to Rs. 200 crore will be disallowed to promote or giving opportunity to local players.
Q11. What are the Documents Required for Applying Mudra Loan?
Ans. Below mentioned is a list of documents required for Mudra loan:
- Duly filled PMMY application form
- 2 Passport-sized photographs
- Self-written Business Plan
- Identity Proof: Passport, Voter’s ID card, Driving License, PAN card, Adhaar Card
- Address Proof: Voter’s ID card, Utility Bills (Water/Electricity Bills), Passport, Driving License
- Income Proof: Last 6 months’ salary slip, Last years’ ITR/Sales Tax returns
- Age Proof: Birth certificate, Class X certificate
- Proof of belonging to SC/ST/OBC Category, if applicable
- Business address and vintage proof, if applicable
- Last 6 months’ bank statement
- Proof of ownership of office/shop/store/godown
- Registrations, Licenses, Permissions, if any
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