new delhi finance minister nirmala sitharaman on wednesday announced rs 3 lakh crore collateral free automatic loan for businesses including msmesthis will benefit 45 lakh small businesses she said detailing parts of the rs 20 lakh crore economic stimulus packagethe loan will have 4year tenure and will have 12month moratorium he saidalso rs 20000 crore subordinate debt will be provided for stressed msmes she said adding this would benefit 2 lakh such businessesthe finance minister said that a fund of funds for msme is being created which will infuse rs 50000 crore equity in msmes with growth potentialsalso msme definition has been changed to allow units with investment up to rs 1 crore to be called micro units in place of rs 25 lakh nowread also centre announces rs 3 lakh crore collateral free automatic loan for msmesalso units with turnover up to rs 5 crore to be called micro units she said adding a turnover based criteria is being introduced to define small businessesthe investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits she saidglobal tenders will be banned for government procurement up to rs 200 crore she said adding this would help msmes to compete and supply in government tenderswatch rs 3 lakh crore collateralfree automatic loans for msmes and businesses fm sitharaman