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All NBFCs can now provide MSMEs loans against dues via TReDS

The Cabinet on Wednesday allowed all non-banking financial companies to provide discount loans to MSMEs against

MSMEs

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  20 Aug 2020 4:50 AM GMT

NEW DELHI: The Cabinet on Wednesday allowed all non-banking financial companies to provide discount loans to MSMEs against dues from government departments, through the TReDS platform. So far only a selected NBFCs and banks were on the platform and could give the discount loans to MSMEs. Briefing the media on the cabinet decisions, Union Information and Broadcasting Minister Prakash Javadekar said that the decision has been taken to improve the liquidity flow to the MSMEs. He noted that MSMEs get their dues on the bills generated from government departments and agencies after 90 days which creates liquidity issues and the latest move has been aimed towards easing the liquidity flow during such delay. (IANS)

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