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Soon, collateral-free loan for MSMEs: FM
Hindustan Times
|November 10, 2024
The government is set to launch a collateral-free term loans scheme for micro, small and medium enterprises (MSMEs) to boost their manufacturing capabilities, Finance Minister Nirmala Sitharaman said on Saturday, adding that the scheme will be placed before the cabinet soon.
The introduction of the new credit guarantee scheme will have to go to the cabinet "sooner," which will facilitate "term loans" to MSMEs, she said while addressing the industry at the National MSME Cluster Outreach Programme in Bengaluru.
After the success of the working capital loan facility – the Emergency Credit Line Guarantee Scheme (ECLGS) – that saved millions of MSMEs from sinking into the red by providing them liquidity during the Covid period, the government is launching a term loan facility for them to purchase modern plants and machinery. As on December 2023, ECLGS issued guarantees to over 11.9 million borrowers involving ₹3.68 lakh crore.
Esta historia es de la edición November 10, 2024 de Hindustan Times.
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