Start-ups will soon be able to take loans of up to Rs 5 crore without collateral through a credit guarantee scheme prepared by the government. The scheme is awaiting cabinet approval and is likely to become functional soon under the supervision of the Department of Industrial Policy and Promotion…
Tag: loans
Rs 1 lakh crore loans to SMEs at risk after Chennai floods
The Chennai floods could put loans worth close to Rs 1-lakh crore, advanced to small businesses and the priority sector in Tamil Nadu, at risk. However, the bad loans are expected to show up only in the next fiscal as relaxations in repayment will obscure the stress for the initial period. Accord…