Govt Extends Microfinance Scheme and Boosts Loan Limit

Big news, folks! The government is extending the Credit Guarantee Scheme for Microfinance Institutions until August 31, 2026. They’re also cranking up the loan limit from ₹300 crore to a jaw-dropping ₹1,000 crore! This means more cash for small borrowers and a chance for MFIs to really strut their stuff. It's like turbocharging the financial engine!

Quick rundown

1.India extends its microfinance credit guarantee scheme.

2.Loan limit hiked to ₹1,000 crore for large NBFC-MFIs.

3.Scheme aims to boost credit flow to small borrowers.

4.NCGTC provides guarantee cover against expected losses.

5.Extension expected to enhance scheme utilization.

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