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Credit cards turn out to be beneficial for MSME, money will be withdrawn easily; Know how to get benefit
Many announcements have been made for MSME in the budget presented in Parliament on Saturday. It talked about the introduction of credit cards for MSMEs. It is believed that it can prove to be a game changer in the field of MSME. Under the new announcement, one is to issue 10 lakh credit cards to micro-enterprises, each with a limit of Rs 5 lakh.
The introduction of credit for micro, small, and medium enterprises (MSMEs) is a chance for transformation, and it will make finance accessible with ease. As per observers in the industry, however, disbursement of loans will have to become easier for financial gain to trickle down to companies.
The Union Budget 2025 saw a significant boost in acceptance in MSME sectors for its financial support, its push towards digitization, and its sector-wise programs. One of its most important announcements could possibly be issuing 10 lakh micro-enterprise credit cards with a Rs 5 lakh limit per card.
Industry players say the move will enhance financial inclusion and ease liquidity challenges for small businesses. Jyoti Prakash Gadia, managing director of Resurgent India, called the credit card initiative for micro-enterprises registered on the Udyam portal a game changer.
