Banks have lent a total of ₹4.78 trillion to small businesses for the fortnight ended 28 Feb, RBI data shows MUMBAI : As covid-19 threatens operations of small businesses in India, banks have requested the Union government to fully guarantee their incremental loans to micro, small and medium enterprises (MSMEs) of at least ₹50,000 crore, said two people aware of the development.
The request was made through the Indian Banks’ Association (IBA) and is currently being examined by the government, said the people cited above, on condition of anonymity.
Banks have lent a total of ₹4.78 trillion to small businesses for the fortnight ended 28 February, showed data from the Reserve Bank of India (RBI).