RBI panel for hike in collateral free lending, MUDRA loan limit to Rs 20 lakh

NEW DELHI: A committee constituted by the Reserve Bank of India (RBI) has recommended increase in the collateral free lending limit to Rs 20 lakh for MSMEs and self-help groups, Parliament was informed on Thursday.nnThe committee has also recommended revision of loan limit sanctioned under MUDRA (Micro Units Development and Refinance Agency) to Rs 20 lakh from Rs 10 lakh, Nitin Gadkari, Union Minister for MSMEs, said in a written reply to the Lok Sabha.nnIn an another reply to the Lower House, he said, 22.83 lakh Micro, Small and Medium Enterprises (MSMEs) were registered on Udyog Aadhaar Portal in the country during March, 2018 to March 2019.nnThe MSME ministry facilitates access to finance through its schemes / programmes namely Prime Minister’s Employment Generation programme (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises and Credit Linked Capital Subsidy Scheme.nnSource: Press Trust of India