prpri Benifits of being a MSME (Micro, small and Medium Enterprises) Benifits of being a MSME (Micro, small and Medium Enterprises)

Benifits of being a MSME (Micro, small and Medium Enterprises):

1. Loan without collateralMicro, small and Medium Enterprises (MSME) can avail loan facility at attractive/lower rate of interest and also Collateral Free loans from CGTFS (CREDIT GUARANTEE TRUST FUND SCHEME) created by;

A. Govt of India

B. SIDBI (Small Industries Development Bank of India)

C. Ministry of (Micro, small and Medium Enterprises) MSME

2. Subsidy for patent – up to 50% subsidy on patents registration can be aviled by MSME (Micro, small and Medium Enterprises) and this can be availed by sending an information to respective ministry (if you are a pharma company like Cipla wants to avail this facility then they shall address the same to Ministry of pharmaceuticals).

3. Subsidy for promotion – If you do any industrial promotion activity or business as suggested by Govt Of India, then you can avail subsidy for the same.

4. Interest rate exemption for OD facility – interest free Overdraft facility available up to 1%.

5. EB (Electricity bills) – MSME (Micro, small and Medium Enterprises) can avail concession on EB (Electricity bills) bill also.

6. Compounded interest for delayed payment – If any buyer of MSME (Micro, small and Medium Enterprises) has made a delay in payment for a period of  45 days then MSME can charge up to 3 times the interest notified by RBI as per section 16 of MSME act.

7. ISO certification – for ISO certification certain charges are applicable which is reimbursed in case of MSME.

8. Other benefits – There are some other benefits also available for MSME (Micro, small and Medium Enterprises) which are industry specific.


Author Bio

Qualification: CMA
Company: Kotak Life
Location: Chennai, Tamil Nadu, India
Member Since: 27 Jun 2021 | Total Posts: 1

More Under Corporate Law

One Comment

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

July 2021