Getting a business loan in the first place is not easy for small businesses. In order to ease credit access for MSMEs, the government has made lending to such units eligible for priority sector advances that include sectors impacting large sections of the population, the weaker sections, and the sectors that are employment-intensive. Importantly, according to the Reserve Bank of India, all domestic scheduled commercial banks and foreign banks with more than 20 branches must lend 7.5 percent of their ANBC or CEOBE, whichever is higher, to the microenterprises under priority sector lending. In order to access credit under priority sector lending norms, the government has mandated Udyam registration for all MSME borrowers. Enterprises having Udyam registration may get access to cheaper bank loans as the interest rate is around 1.5 percent lower than interest on regular loans and generally begins at around 8.75 percent per annum.