MSME Credit Card: If you are an MSME credit card holder or want to get it, then this is a great opportunity for you. Now with double limit you will get a great chance to make your business even more successful. Its application process is also very simple. So why the delay? Quickly contact your bank and take advantage of MSME credit card.
MSME Credit Card: Big announcement in Budget 2024-25
Union Finance Minister Nirmala Sitharaman has increased the MSME (Micro, Small and Medium Enterprises) credit guarantee cover from Rs 5 crore to Rs 10 crore in the Union Budget 2024-25. With this, MSME credit card holders will get the benefit of double limit.
What has changed in the MSME Credit Card?
Earlier: The maximum guarantee cover was up to Rs 5 crore.
Now: This limit has been increased to Rs 10 crore.
For small businesses: Earlier the loan limit was Rs 3 lakh, now it has been increased to Rs 5 lakh.
For registered MSMEs: MSMEs registered on the Udyam portal will get a higher credit limit.
Credit Card Will Be Issued: Verification Benefits of MSME Credit Card
Business Growth: Helps in fulfilling the need of working capital.
Daily Business Expenses: Quick funding is available for business operations.
Offers & Discounts: MSME credit card holders get additional benefits.
Reduction in Interest Rate: Loan is available at low interest rate under special credit scheme for MSME.
How to Apply for MSME Credit Card?
Visit Bank Branch: Apply by visiting your nearest bank branch.
Check Eligibility: Get your eligibility confirmed from the bank official.
Required Documents: Aadhaar card, PAN card, business registration certificate, bank statement, income proof, and if you have Udyam portal registration.
Document Verification: The bank will verify your documents.
After completion, you will be issued an MSME credit card.
Who can get MSME Credit Card?
Small and medium scale businesses
Startups and entrepreneurs
Traders from manufacturing and service sectors
MSMEs registered on Udyam Portal
Increased scope of MSME Credit CardThis step of the government has been taken to provide more financial support to small and medium scale businessmen. The government is constantly making new reforms to strengthen the MSME sector, so that businessmen can easily get funding and credit.
Small and medium scale businesses
Startups and entrepreneurs
Traders from manufacturing and service sectors
MSMEs registered on Udyam Portal
Increased scope of MSME Credit CardThis step of the government has been taken to provide more financial support to small and medium scale businessmen. The government is constantly making new reforms to strengthen the MSME sector, so that businessmen can easily get funding and credit.
Now do not delay, take advantage of MSME credit card to take your business to new heights!
