Regulatory Alerts2020-10-21
Added · Updated
SMESPD Circular Letter No. 11: Availing refinance facility against loan/investment disbursed to CMSME sector
The document mandates that financial institutions strictly comply with the 'unsecured loan' guidelines under Section 14(ch) of the Financial Institutions Act, 1993, to prevent hindrance in receiving refinance facilities for the CMSME sector. It also amends the 'Refinance Scheme for Establishing Rural Industries for Agro-based Product Processing' by replacing the term 'single entrepreneur' with 'single enterprise' to clarify ownership types. These directives are issued to streamline the refinance process and take immediate effect.
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