Centre finalising norms of subordinate debt scheme for stressed MSMEs: Official

The government is finalising the guidelines of the Rs 20,000 crore scheme to provide subordinate debt to stressed micro, small and medium enterprises (MSMEs), a top official said on Monday. Additional Secretary and Development Commissioner MSME Devendra Kumar Singh said the guidelines for the stressed subordinate debt scheme are under finalisation.

The government is finalising the guidelines of the Rs 20,000 crore scheme to provide subordinate debt to stressed micro, small and medium enterprises (MSMEs), a top official said on Monday.  Additional Secretary and Development Commissioner MSME Devendra Kumar Singh said the guidelines for the stressed subordinate debt scheme are under finalisation.  He was addressing a webinar organised by Dun & Bradstreet India.  The approval for provisioning of Rs 20,000 crore by the Cabinet on June 1 as subordinate debt to provide equity support to the stressed MSMEs will benefit 2 lakh such units, MSME Minister Nitin Gadkari had said.