Finance Minister Nirmala Sitharaman addresses FICCI members on July 31,2020 Picture: Twitter/@ficci_india.
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Plan with41,600 crore corpus was to help MSMEs.
The Centre has broadened its credit guarantee plan for micro, small and medium business (MSMEs) to cover loans provided to bigger companies, as well as to self-employed individuals and experts who have actually taken loans for business purposes, Financing Minister Nirmala Sitharaman said on Saturday.
The Emergency Situation Credit Line Assurance Plan was presented in Might as part of the Centre’s Aatmanirbhar plan in reaction to the COVID-19 crisis. It has a corpus of41,600 crore and offers totally ensured extra financing of approximately 3 lakh crore. Eligible MSMEs needed to have an annual turnover as much as100 crore, with exceptional loans of up t