Banks disburse ₹7,500 crore under Credit Guarantee Scheme for micro-finance institutions
The Hindu
The scheme was announced by FM Nirmala Sitharaman in June as part of a ₹6.29 lakh crore package to provide relief to various sectors affected by the second wave of the COVID-19 pandemic.
Banks have fully utilised ₹7,500 crore under the Credit Guarantee Scheme for Micro Finance Institutions (MFIs) to benefit the smallest of the borrowers, the Finance Ministry said on Wednesday.
The scheme was announced by Finance Minister Nirmala Sitharaman in June as part of a ₹6.29 lakh crore package to provide relief to various sectors affected by the second wave of the pandemic.
“Credit Guarantee for MFIs fully utilised within 75 days. Rs 7500 cr sanctioned to #MFIs under #CGSMFI for onlending to small borrowers. Big boost to consumption and livelihoods,” the Ministry said in a tweet.
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