2% Interest Subvention Scheme for MSMEs 2018

Ministry	Ministry of Micro, Small and Medium Enterprises (MSME)
Related Scheme	2% Interest Subvention Scheme for MSMEs 2018
Description	Encouraging both manufacturing and service enterprises to increase productivity and provide incentives to MSMEs for on- boarding on GST platform which helps in formalization of economy, while reducing the cost of credit
Nature of assistance	The interest relief will be calculated at two percentage points per annum (2% p.a.), on outstanding balance from time to time from the date of disbursal / drawl or the date of notification of this scheme, whichever is later, on the incremental or fresh amount of working capital sanctioned or incremental or new term loan disbursed by eligible institutions.
Who can apply?	MSMEs may apply directly to eligible lending institutions under the scheme.
How to apply?	MSE meeting the eligibility criteria may approach eligible Banks / Financial Institutions/ Regional Rural Banks/NBFCs.
Whom to contact	Lending bank branch CEO-SIDBI MSME- Development Institutes under Office of Development Commissioner MSME ( contact details at annexure) Email: prasenjit@sidbi.in Phone:011-23448404 Guidelines of this scheme can also be downloaded from:
	Download Scheme guidelines http://dcmsme.gov.in/Notification_of_Interest_subvention_Sche me_2018.pdf https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11478 https://sidbi.in/files/circulars/ISS-for-MSMEs,-2018—Circular- and-FAQs.pdf