MSME status to retail and wholesale traders, know how to get financial help

New Delhi. The government has given MSME status to the retail and wholesale traders of the country. In view of the impact of Kovid, the government has taken this decision so that the retail and wholesale traders also get the benefit of the financial help given to the MSME sector. According to the government, more than 2.5 crore traders will benefit from this. Union Minister Nitin Gadkari gave this information by tweeting.

Gadkari said that keeping in view the impact on retail and wholesale traders due to the problems caused by the second wave of Kovid, it has now been decided to bring it under the ambit of MSME. Efforts are being made to provide financial assistance by bringing this sector under priority sector lending.

Easy loan will be available under priority sector lending
He further said that now wholesale and retail traders will be able to get easy loans under priority sector lending. About 2.5 crore retail and wholesale traders will benefit from this decision of the government. Now retailers and wholesalers will also be able to register on the enterprise portal. This will ensure that they get cheaper priority sector loans from banks under the guidelines of RBI.

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MSME sector will get help, GAME joins hands with SIDBI
Recently, the Global Alliance for Mass Entrepreneurship (GAME) and Small Industries Development Bank of India (SIDBI) have collaborated to help the Micro, Small and Medium Enterprises (MSMEs) meet the challenges caused by the pandemic. Have just signed an agreement. In a statement issued last Sunday, it said that the broad themes involved in the partnership include increasing the availability of credit, creating competitive groups, reforming the legal structure for ease of doing business, among others. It said that both the organizations have committed that 25 percent of the entrepreneurs who will benefit from the partnership will be women entrepreneurs.

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