Review of Interest Subvention Scheme

Government has modified the guidelines of ‘Interest Subvention Scheme for Incremental Credit to MSMEs 2018’ on 13th December, 2019. In the modified guidelines, requirement of Udyog Aadhar Number (UAN) has been dispensed with for units registered for Goods and Service Tax (GST). However, in the case of units which are not registered under GSTN, may either submit Income Tax Permanent Account Number (PAN) or their loan account should be categorised as MSME by the concerned bank.

This information was given by Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha today.