Prime Minister Narendra Modi has appointed a committee headed by Rajnath Singh to resolve any problem in the implementation of the Rs 3 lakh crore collateral-free loan scheme for MSMEs.

In an online interaction with the members of the Pune-based Mahratta Chambers of Commerce, Industries and Agriculture (MCCIA), Gadkari asked small businesses to email him directly in case of problems faced by them in securing credit under the scheme.

Finance Minister Nirmala Sitharaman earlier this month had announced the collateral-free loans scheme for MSMEs as part of the overall Rs 20 lakh crore Covid-19 relief package to uplift the economy.

According to Sitharaman, 45 lakh MSME units will be able to resume their businesses and secure jobs through this support. The eligible units should have up to Rs 25 crore outstanding credit and Rs 100 crore turnover to apply for the loan scheme.