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    2021-6-28 · New Delhi: Finance minister Nirmala Sitharaman on Monday announced a new credit guarantee scheme to facilitate loans to 25 lakh persons via MFIs (Microfinancing institutions).The loan amount will be up to Rs 1.25 lakh per individual, duration of three years. 'Focus will be on new lending and not payment of old loans,' the finance minister said as she revealed a new economic relief …

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    2021-6-28 · Sitharaman said that under the scheme, a guarantee will be provided to Scheduled Commercial Banks for loans to new or existing NBFC-MFIs or MFIs for lending upto Rs 1.25 lakh to approximately 25 lakh small borrowers. The interest rate on loans from banks will be capped at the marginal cost of funds based lending rate (MCLR) plus 2 percent.

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  • Media

    National Credit Guarantee Trustee Company Ltd (NCGTC) is a private limited company aimed to support the India's economic development agenda by assisting students & enterprises in obtaining finance from the member lending institutions. NCGTC facilitates access to financing through the guarantee schemes under its management. NCGTC is envisaged to provide credit guarantee to

    Get Price
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    2021-6-28 · New Delhi [India], June 28 (ANI): The Centre on Monday announced Credit Guarantee Scheme to facilitate new lending among the smallest borrowers and stated that this includes the 'stressed borrowers'. While addressing a press conference here on Monday, Union Finance Minister Nirmala Sitharaman said, 'Under the Credit Guarantee Scheme we aim to ...

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