Health, tourism focus of fresh relief booster

June 29, 2021
Hindustan Times
In order to provide relief to 2.5 million small entrepreneurs, the finance minister also announced a new credit guarantee scheme with a corpus of ₹7500 crore to facilitate loans up to ₹1.25 lakh through micro finance institutions (MFIs). “Interest rate on loans from banks will be capped at MCLR [Marginal Cost of Funds Based Lending Rate] plus 2%,” she said. “The measure is designed to provide a safety net, especially to small borrowers. However, the coverage at only 2.5 million individuals will need to increase to generate the desired impact,” said Shravan Shetty, MD at consultancy firm Primus Partners
Publication: Hindustan Times