Regulatory Alerts2022-06-20
Added
SMESPD Circular Letter No. 02: Incentive facility against loans & advances provided to women entrepreneurs of CMSME sector
The document restricts the 'Small Enterprise Refinancing Scheme' incentive facility exclusively to women entrepreneurs in the CMSME sector, limiting eligibility to this group for both the 5% maximum interest rate and the 1% incentive. Banks and financial institutions are required to provide a 1% incentive to eligible women borrowers who repay loans on time, while also receiving a 1% incentive for proper loan management. The directive mandates the use of a specific application form and requires quarterly submission of detailed claim statements, with the instructions taking immediate effect.