SC: ‘Abandonment of Service is Not Voluntary Retirement’, Denying SBI Clerk Pension Benefits  ||  Supreme Court: Stranger Affected by an Interim Order is Entitled to be Impleaded in Writ Proceedings  ||  Supreme Court: Courts Cannot Replace an Authority’s Discretion, and Sets Aside Direction to Governor  ||  SC: Title Suit Hit by Constructive Res Judicata if Omitted in Prior Injunction Suit Disputing Title  ||  SC Clarifies Whether a Co-Operative Society Can Act as a Resolution Applicant under the IBC  ||  Chhattisgarh High Court: Innocent Litigants Should Not be Penalized For Lapses by Their Lawyers  ||  Delhi High Court: Marriage With the Victim Cannot Absolve an Accused of Rape under POCSO  ||  J&K&L HC: Acquisition Lapses if 80% Compensation is Unpaid Before Possession under Section 17A  ||  Delhi HC: Policy Number is Not Mandatory For LIC Details under RTI, But Basic Details are Required  ||  SC: Courts Must Curb Unlicensed Money Lenders; Probes Need Not Wait For New Law    

Amendments approved in interest subvention scheme for MSMEs- (Press Information Bureau) (16 Dec 2019)

MANU/PIBU/2108/2019

Commercial

Changes set to give Fillip to the MSME Sector

The Minister for Micro, Small and Medium Enterprises and Road Transport & Highways, Shri Nitin Gadkari approved the changes in the Interest Subvention Scheme for MSMEs, in a meeting held here today to review the functioning of the scheme. The improvements are set to provide momentum giving fillip to the MSME sector. The Interest Subvention Scheme for MSMEs was launched by the Prime Minister Shri Narendra Modi in November, 2018. The modifications in operational guidelines carried out are based on suggestions made by various stakeholders, including banks and lending institutions who had brought to light operational difficulties which were hindering a smooth rollout of the scheme.

The details of the improvements / modifications are as below:-

1. Settlement of claims based on internal / concurrent auditor certificate and submission of statutory auditor's certificate once by June 30, 2020;

2. Acceptance of claims in multiple lots for a given half year by eligible institutions;

3. Requirement of Udyog Aadhar Number (UAN) is dispensed with for units eligible for GST.

4. The last date of submission of claims for half-yearly period ended March, 31, 2019 has now been extended till December 31, 2019.

5. Trading activities without UAN have been made eligible.

6. 50% of the estimated claim amounts may be released to eligible institutions (at least to those belonging to Public Sector Banks), based on data / information to be furnished by them and the Utilisation Certificate duly certified by respective statutory auditor to submitted by June 2020.

Tags : AMENDMENTS   INTEREST SUBVENTION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved