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What is the interest rate for MSME claim?

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What is the interest rate for MSME claim?

MSME Law notes by NB Associates

As per the guidelines of the MSME Samadhaan portal in India, if a buyer fails to make payment to an MSME within 45 days of the acceptance or deemed acceptance of goods or services, the buyer will be required to pay interest to the MSME at a rate equal to three times the bank rate notified by the Reserve Bank of India.

The bank rate notified by the Reserve Bank of India currently stands at 6.5%, as of March 2023.

This means that the interest rate for MSME claims under the MSME Samadhaan portal is 3 times the current bank rate, which is 19.5% (6.5% x 3)

It’s worth noting that the interest rate can be subject to change as per the notification from the Reserve Bank of India, and MSME Samadhaan portal may update the interest rate accordingly.

Bank rate notified by RBI (Reserve Bank of India) since 2018.

Date from	Date to	RBI Bank rate
01/08/2018	06/02/2019	6.75%
07/02/2019	03/04/2019	6.50%
04/04/2019	05/06/2019	6.25%
06/06/2019	06/08/2019	6%
07/08/2019	03/10/2019	5.65%
04/10/2019	26/03/2020	5.40%
27/03/2020	21/05/2020	4.65%
22/05/2020	03/05/2022	4.25%
04/05/2022	07/06/2022	4.65%
08/06/2022	04/08/2022	5.15%
05/08/2022	29/09/2022	5.65%
30/09/2022	06/12/2022	6.15%
07/12/2022	28/02/2023	6.50%