RBI allows collateral free loans of up to Rs 20 lakh to MSEs

Mumbai (Maharashtra) [India], February 9 (ANI): The Reserve Bank of India (RBI) on Monday allowed collateral free loans of up to Rs 20 lakh to the units in the Micro and Small Enterprises (MSE) sector.

'Banks are mandated not to accept collateral security in the case of loans up to Rs 20 lakh extended to units in the MSE sector. Banks are also advised to extend collateral-free loans up to Rs 20 lakh to all units