India expands federal business loan guarantee to Rs 4.5 trillion – finance minister

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NEW DELHI, June 28. (Reuters) – India will expand federal corporate loan guarantees to Rs 4.5 trillion ($ 60.7 billion) from the previously set limit of Rs 3 trillion, India’s finance minister said Monday. coronavirus pandemic.

The government will also provide guarantees of Rs 1.1 trillion for loans to the pandemic-stricken health sector and medical infrastructure, Finance Minister Nirmala Sitharaman told reporters.

The Emergency Credit Lines Guarantee Scheme (ECLGS), launched last year, has helped cash-strapped small businesses raise funds during a working capital-locked pandemic and fulfill their orders.

1 dollar = 74.2125 Indian rupees Report of Aftab Ahmed and Manoj Kumar; Editing: Toby Chopra

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