To facilitate industrial units in Haryana in retaining their employees in these times of financial duress, the Government of Haryana notified the “Haryana MSME Revival Interest Benefit Scheme”. All MSME units as on 15 March 2020, will be eligible to 100% interest benefit on loans availed for payment of the wages of employees and/or other expenses up-to a maximum of INR 20,000 per employee. The interest benefit shall be limited to the interest paid by the unit to the bank / financial institution up-to a period of six months. The interest benefit shall be calculated at the rate of interest of maximum 8% p.a. or actual rate of interest charged by the bank / financial institution on Term loan/ working capital loan whichever is lower.
Industrial Unit must comply with the following conditions:
– The Unit should have been in commercial production for at-least 80% of days between 1 Feb 2020 and 15 March 2020
– The Unit should have filed EM/UAM after coming into commercial production, with the competent authority
– The unit should have a running account of term loan / working capital loan from a commercial bank/ financial institution or;
– The unit should obtain/should have obtained term loan / working capital loan from bank/financial institution within one month of the date of permission granted for operations, during lock down period on the Portal or 30 June, whichever is later.
In case a similar incentive is extended by Government of India to the MSME units, then under this scheme only incremental benefit shall be provided to MSME units only
– up-to a limit to make the total interest benefit to 8% p.a. on term loan / Working Capital loan, or actual rate of interest charged by the bank / financial institution on Term loan / working capital loan whichever is lower.