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Not many takers for Govt’s collateral free loan: FISME’s Animesh Saxena
The Government’s Rs 3-lakh crore collateral free loan scheme is not finding many takers because it comes with a cost-burden, with an interest rate ranging from 7.5% to 9.25%. Plus, banks are still asking for too many papers, which makes the scheme unwieldy for small businesses, says Animesh Saxena, President, Federation of Indian Micro and Small & Medium Enterprises (FISME).
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