Saturday, May 15, 2010

COLLATERAL FREE LOAN UP TO RS 10 LAKH TO MSEs

In order to ensure increased flow of credit to the micro and small enterprises (MSEs), the Reserve Bank of India said that it will ask banks not to insist on collateral security in case of loans up to Rs 10 lakh. Currently, banks extend loans up to Rs 5 lakh without collateral security to all units in the MSE space.

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