Kerala govt announces special package for MSMEs amid Covid-19 crisis

KSIDC will offer a moratorium on loans and interest to all operating units for three months without penal interest. The Corporation will also offer loans above Rs 50 lakh to MSMEs

Kerala government on Thursday announced a Rs 3434 crore special package for the revival of micro, small and medium enterprises (MSMEs) against the backdrop of the Covid-19 pandemic. The package was approved during a cabinet meeting held today and will be implemented by the industries department.

Under the package, existing MSMEs will be offered interest exemption for additional loans, Kerala State Industrial Development Corporation Ltd (KSIDC) and Kerala Industrial Infrastructure Development Corporation (KINFRA) will offer one time settlement on loans and six month's extension on repayment of loans and interest.