Budget expectations: Microfinance institutions seek extension of credit guarantee scheme till FY2023

Microfinance institutions have written to Finance Minister Nirmala Sitharaman seeking extension of the credit guarantee scheme for micro lenders till FY 2022-23.

New Delhi: Microfinance institutions (MFIs) have written to Finance Minister Nirmala Sitharaman seeking extension of the credit guarantee scheme for micro lenders till FY 2022-23 with an amount of Rs 15,000 crore.

Of the amount, at least 75 per cent should be earmarked for small and medium-sized MFIs, Sa- Dhan, a self-regulatory organisation for the microfinance sector, wrote to the finance minister in its pre-Budget expectations.

The government is scheduled to present the Budget 2022-23 next month.