- ICICI Bank announced the facility known as ‘GST Business Loan’. Micro, small and medium enterprises will now be able to get quick overdraft of up to Rs 1 crore for working capital requirements, based on their goods and services tax (GST) returns.
- The overdraft amount could range between Rs 10 lakh and Rs 1 crore and would be up to 20 per cent of the turnover reported in the GST return.
Points to remember:
- Which bank has launched ‘GST Business Loan’ for MSME?
- Maximum limit of loan under ‘GST Business Loan’ for MSME?