LOK SABHA
NON PAYMENT OF EMIS TO BANKS
1511. SHRI S.MUNISWAMY
Will the Minister of MICRO, SMALL AND MEDIUM ENTERPRISES be pleased to state:
(a) whether the department of MSMEs has a database of useful entrepreneurs who have stopped operations due to non payment of timely EMIs to the banks;
(b) if so, the details thereof;
(c) whether there is a scheme to select few exclusive units/industries to rescue them from declaring their Non Performing Assets and further revive such industries in the larger interest of the nation; and
(a) if so, the details thereof?
(SHRI NARAYAN RANE)
(a)&(b): As MSMEs are present in both formal and informal sector, data regarding MSMEs which stopped operations due to non payment of timely EMIs to the banks are not maintained by this Ministry.
(c)&(d): As part of the Aatma Nirbhar Bharat Abhiyaan a scheme called Credit Guarantee Scheme for Subordinate Debt (CGSSD) was approved by the Government of India on 01.06.2020. The scheme provides leverage upto Rs. 20,000 crore as subordinate debt for Stressed MSMEs viz. SMA-2 and NPA accounts that are eligible for restructuring as per RBI guidelines on the books of the Lending institutions. Under this scheme, the promoter(s) of the MSMEs are given credit equal to 15% of their stake (equity plus debt) or Rs. 75.00 lakh whichever is lower. The promoter would infuse the credit in the MSME as quasi equity or sub-debt. The guarantee coverage of the sub-debt is 90% and the promoters are required to bring in 10% of the sub-debt amount as collateral. Government of India provides ₹ 4000 crore to the corpus of ‘Distressed Assets Fund’ in a phased manner.