As per RBI’s advise Indian Banks Association made certain changes in the current common loan application format for MSME loans and circulated to its member banks for adoption.The revised format for the common loan application is increased up to Rs.2 Crore. This is in view of enhancement in CGTMSE coverage up to Rs.2 crore from the earlier limit of Rs.1 crore.It is learned that the Small Industries Development Bank of India (SIDBI) has requested RBI to consider changes required in the common loan application.
To know more on revised guidelines of CGTMSE on the ceiling of limits and interest rate
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Bank finance under CGTMSE guarantee scheme
