Centre mulls proposal to guarantee $39 bn small-business loans
Small firms will be eligible to borrow an additional 20% of their credit limit
The Central government is considering a proposal to guarantee as much as Rs three trillion ($39 billion) loans to small businesses as part of a plan to restart economy.
Under the proposal, small firms will be eligible to borrow an additional 20% of their credit limit.
The government will set up a special fund to pay for any defaults. India’s government and regulators are slowly coming out with programmes as everyone, from companies to fund managers, struggle under the lockdown, which has halted manufacturing and wiped out consumption.