Finance minister Nirmala Sitharaman announced Rs 3 lakh crore collateral-free automatic loans for MSMEs and businesses. These loans will have a 4 year tenor and are valid upto October 31st, 2020. Finance minister Nirmala Sitharaman also announced Rs 20,000 cr subordinate debt for stressed MSMEs to be provided that will benefit over 2 lakh MSMEs. In addition to this, SMEs will get collateral free loan with a 12 month moratorium which will benefit 45 lakh units.