city New Delhi India city Mumbai pandemic economy Government Coronavirus city New Delhi India city Mumbai

Centre set to provide up to 100% credit guarantees for MSME loans: Sources

Reading now: 444
www.livemint.com

New Delhi/Mumbai: India's government has firmed up a proposal to guarantee loans given to small businesses by financial institutions, as it seeks to kick-start business when the coronavirus lockdown starts to ease, a government source and two bank officials said. "Up to 100% of loans given to MSMEs (micro, small and medium enterprises) would be sovereign-backed under the new scheme so that national credit pours into MSMEs," said a top government official familiar with the plan.

The size of the fund is likely to be based on immediate needs, and the guarantee could be between 25% and 100%, depending on the size of the company or the risks undertaken, said two bankers.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA