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The Reserve Bank of India (RBI) on October 07, 2020 has issued a circular modifying the guidelines for the Interest Subvention Scheme for MSME’s- Cooperative Banks.

The following modifications have been made:
• The validity of the scheme has been extended to March 31, 2021. In addition to this, the incremental limit/working capital limit has been increased which shall be applicable from March 03, 2020.
• All the claims shall be accepted in multiple lots for the given half-year by the permitted institutions.
• Requirement of Udyog Aadhaar Number (UAN) may be dispensed with for units eligible for GST. Units not required to obtain GST may either submit Income Tax Permanent Account Number (PAN) or their loan account must be categorized as MSME by the concerned bank.
• All the trading activities shall now be covered under the scheme.

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