what is msme loan?

 

According to the definition formulated by The Micro, Small and Medium Enterprises Development Act 2006, MSMEs are Micro, small and medium industries involved in the manufacturing or processing of commodities.

Under the new definition, the distinction between manufacturing and services enterprises has been eliminated. Under the new definition of MSMEs, the investment criteria for such enterprises have been revised upwards, while an additional criterion of turnover has been introduced.

MSMEs loans are offered under various promotional schemes for each industry with certain peculiar provisions. Most of the schemes are covered under CGTMSE. NKB Kredit helps in identification of proper scheme under which you are eligible to get funds.