20 Lac Crores - Atma Nirbhar Bharat Abhiyan Scheme
The Atma Nirbhar Scheme Starts funding following these instructions for MSME / MESE
1. The Fund will be provide in a three ways to start MSME/MESE Scheme which are:- (a)Secured Business Loan :- We can understand it as Loan Against Policy for self Employed Entrepreneurs. (b) Unsecured Business Loan :- Its a collateral free loan or we can call it free guarantee Loan. (c) Overdraft Limit for Self Employed :- In this product, Bank open a virtual account of customer and transfer the sanctioned amount in that account. Now when customer may use the fund as per his need from that amount then he has to pay interest only on that amount which he is using instead of whole sanction amount. Its a nice product for the ups & downs needs of business. 2. Now, the banks will categorized the Entrepreneurs segments in three various parts. (a) Manufacturer :- In this segment, The Declining ratio is very low of the cases. (b) Trader :- In this Criteria, Banks will give funding on the basis of Balance sheet, GST invoices and Turnover. (c) Services :- Its a risky profile in banking policies, cause there is no physical stock or capital can be seen by banks. So its in a fifty-fifty ratio Approvals. 3. The banks need 3yrs ITR with Financials & 1yr Updated Bank Statement of current account and saving account for above 25lacs Fund. 4. The Banks Ticket size to give fund for per business is 3lac to 2crore in MSME/MESE Atma Nirbharta Scheme. 5. The Basic policy for MSME/MESE Scheme of all banks are:- (a) Funding :- 10lacs - 1 crore (b) Rate of Interest :- 13% - 17% per annum (c) Sales Turnover for Manufacturer :- 35 Lacs Trader :- 40 Lacs Service Provider :- 20 Lacs (d) Tenure :- 36 months - 72 months (e) Login Fees :- 5000+GST = Rs 5900 ( Non Refundable) (f) Cibil :- 650+ , Minus One with no Delay Payment Deposit in last 6 months. 6. Unaudited Financials Can be Considered. 7. All MFI's, NBFC's and Govt banks like SBI, Union, Indian, Allahabad Bank will provide this scheme to all MSME/MESE. But the major leader of this scheme will be lead by State Bank of India and AU Finance with easy repay options. Note:- Govt Banks May low as per profiles. 8. SBFC will also doing this segment in a very good manner. 9. Still, We cannot say anything about Rate of Interest, Cause amendments are under process in this scheme. It may Disclose after the funding starts. 10. F&C Also starting the MSME/MESE Program to serve with all of the given banks and NBFC's were given above.