The Government has approved an extension in the validity of the Credit Guarantee Scheme for Microfinance Institutions-2.0 up to 31st August of this year or till guarantees for an amount of 20 thousand crore rupees are issued. The Ministry of Finance said that as of date, loans totalling 770 crore rupees have been sanctioned under the scheme. The scheme aims to provide credit guarantee support through National Credit Guarantee Trustee Company Limited to strengthen lending to Microfinance Institutions(MFI) and facilitate increased credit flow of up to 20 thousand crore rupees to Non-Banking Financial Company-Microfinance Institutions (NBFC-MFI).
The Ministry said that the government has also approved an increase in the maximum loan amount capped to Large Sized NBFC-MFIs and MFIs from 300 crores rupees to 1000 crore rupees under the overall ceiling of 20 percent of Assets under Management.
agricultural residues, and bamboo, has strengthened the energy security.
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