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MSME Loan

Govt. of India vide Gazette notification S.O. 2119(E) dated 26.06.2020 (Annexure-I) has notified revised criteria for classifying the enterprises as Micro, Small and Medium enterprises and the revised definition is effective from 1st day of July 2020.

Sector Existing Definition Revised Definition
Manufacturing Services Manufacturing & Services
Micro Enterprise Investment in Plant and Machinery does not exceed Rs.25/- Lacs Investment in equipment & Instruments does not exceed Rs.10/- Lacs The investment in Plant and Machinery or Equipment does not exceed one crore rupees AND turnover does not exceed five crore rupees
Small Enterprise Investment in Plant and Machinery More than Rs. 25/- Lacs but does not exceed Rs.5/- Crores Investment in equipment & Instruments More than Rs. 10/- Lacs but does not exceed Rs.2/- Crores The investment in Plant and Machinery or Equipment does not exceed ten crore rupees AND turnover does not exceed fifty crore rupees
Medium Enterprise Investment in Plant and Machinery More than Rs. 5/- Crores but does not exceed Rs.10/- Crores Investment in equipment & Instruments More than Rs. 2/- Lacs but does not exceed Rs.5/- Crores The investment in Plant and Machinery or Equipment does not exceed fifty crore rupees AND turnover does not exceed two hundred and fifty crore rupees

Manufacturing Enterprises i.e. enterprises engaged in the manufacture or production, processing or preservations of goods with investment in Plant & Machinery as stated above.

Service Enterprises i.e. Enterprises engaged in providing or rendering services and whose investment in equipment as specified above. (Original cost excluding Land & Building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006).

The loans and advances offered by Bank of Baroda for MSME Units can be used for the basic needs of

  • Acquisition of factory, land and construction of building spaces.
  • Purchase of plant and machinery including lab equipment, testing equipment, etc.
  • Meeting working capital requirements, like raw materials, stock-in-progress, finished goods and for purchase or discounting of bills.
  • Temporary additional assistance for meeting the urgent needs of raw material.
  • Additional monitory assistance for any eligible purpose.

Rate of Interest

Competitive pricing linked to Repo rate/MCLR

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