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New credit guarantee scheme will help India Inc revive, expand: CEOs

Say stimulus measures will spur economic activity, especially in construction and infra sector

loans, restructuring, recast, debt, moratorium, credit, lending, banks

The finance ministry said the scheme has already helped several MSME units, business enterprises, individual loans for business purposes and MUDRA borrowers.

BS Reporters Mumbai
The Finance Ministry today announced a new credit scheme under which stressed sectors will be eligible for debt moratoriums for up to five years, which, CEOs said, will help them to revive their pandemic-hit companies and encourage them to invest in new capacities.
The scheme will provide collateral free, additional credit at capped interest to companies in the 26 stressed sectors identified by former banker K V Kamath-led panel this October. The scheme also extended the deadline of loan moratorium from December this year to March next year, helping corporates in the stressed sectors.

The stressed sectors identified by the panel

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First Published: Nov 12 2020 | 6:15 PM IST

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