PM Modi constitutes committee headed by Rajnath Singh for implementing Rs 3 lakh crore collateral-free loan scheme for MSMEs

Prime Minister Narendra Modi has appointed a committee to resolve any problem in the implementation of the Rs 3 lakh crore collateral-free loan scheme for MSMEs. The committee will be headed by Union Minister Rajnath Singh
The Rs 3 lakh crore collateral-free loan scheme for MSMEs was announced by Finance Minister Nirmala Sitharaman as part of the overall Rs 20 lakh crore Covid-19 relief package to uplift the economy.
The MSME units should have up to Rs 25 crore outstanding credit and Rs 100 crore turnover to apply for the loan scheme.
The tenure of the loan will be 4-year with a moratorium of 12 months