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DAILY NEWS ANALYSIS

  • 02 August, 2020

  • 5 Min Read

Credit guarantee extended to larger firms, self-employed

Credit guarantee extended to larger firms, self-employed

Context:

  • The Centre has expanded its credit guarantee scheme for micro, small and medium enterprises (MSMEs) to cover loans given to larger firms, as well as to self-employed people and professionals who have taken loans for business purposes.

News

  • The Emergency Credit Line Guarantee Scheme was rolled out as part of the Centre’s Aatmanirbhar package in response to the COVID-19 crisis.
  • It has a corpus of 41,600 crores and provides fully guaranteed additional funding of up to 3 lakh crore.
  • Eligible MSMEs must have an annual turnover up to 100 crore, with outstanding loans of up to 25 crore as on February 29, 2020.

Source: TH


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