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The Ministry of Micro, Small and Medium Enterprises (MSME) has launched a new scheme, Credit Linked Capital Subsidy Scheme (CLCSS), for MSEs for technology upgradation under which a capital subsidy at 15 per cent of value of plant and machinery will be provided on loans of up to Rs. 1 crore. In a written note in the Rajya Sabha, union cabinet minister for MSMEs Virbhadra Singh said the scheme will be implemented through 11 Nodal Banks/agencies such as Small Industries Development Bank of India (SIDBI) and National Bank of Agriculture and Rural Development (NABARD). The State Bank of India, Andhra Bank, State Bank of Bikaner and Jaipur, Bank of Baroda, Punjab National Bank, Canara Bank, Bank of India, Tamilnadu Industrial Investment Corporation Limited and the National Small Industries Corporation Ltd will also provide the scheme to MSEs, the minister added. The Subsidy is provided to MSEs across the country for purchase of plant and machinery in the specified products groups/technologies approved under the scheme. |
| Written by SEI News Desk | Thursday, 01 December 2011 12:40 |
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