MSME 5 LAC CREDIT CARD FOR MSME BY PM
Feature Detail Name ME-Card (Customised Credit Card Scheme for Micro Enterprises) Who is Eligible Micro-enterprises registered on the Udyam portal Credit Limit ₹5,00,000 (5 lakh rupees) Number of Cards in First Year 10 lakh cards (i.e. 1 million) to be issued in the first year. Credit Guarantee Cover For micro and small enterprises, the government is increasing the guarantee cover from ₹5 crore to ₹10 crore . MSME Classification Changes Investment limit to be raised by 2.5 times , turnover limit by 2 times . This helps more businesses qualify as MSME as their scale grows. Purpose / Why It Matters The MSME sector often faces difficulties getting formal credit because of limited collateral, cash flow issues, or lack of credit history. A credit card specifically for them helps address some of these gaps. Provides quick, more flexible access to working capital (for e.g. buying raw mat...