The Delhi government on Tuesday signed an MoU with central government entity CGTMSE to provide collateral-free loans up to Rs 10 crore to city-based entrepreneurs. Speaking at the signing of the MoU, Delhi Chief Minister Rekha Gupta termed the move as an important step towards financial empowerment to achieve the goal of a "Viksit Delhi". She said the Delhi government has set aside a fund of Rs 50 crore to service loans worth Rs 2,500 crore without the need of any collateral. She said there was no cap on the number of beneficiaries even as an initial target of one lakh was set initially. She said under the scheme, the Centre will extend 75-90 per cent guarantee to cover the loan amounts and the remaining guarantee will be provided by the Delhi government. It will cover all sectors, including manufacturing, service, and retail, she said, adding that the Delhi government has set 10 per cent as non-performing assets (NPA) limit to keep its financial liability in check. "There are lak
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