The National Bank for Agriculture and Rural Development has revealed a dedicated debt and credit guarantee product named as “Structured Finance and Partial Guarantee Program for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)”. The newly launched product seeks to offer undisturbed flow of credit to the last mile in rural areas hit by the pandemic.
The Structured Finance and Partial Guarantee Program for NBFC-MFIs includes offering partial guarantee on pooled loans offered to small and mid-sized MFIs. It will help in facilitating Rs 2,500 crore funding in the initial phase which is expected to be scaled up in the future. The program is targeting to cover over 1 million households across 28 States and 650 districts.
Important takeaways for all competitive exams:
Lithium, a crucial component in the production of batteries for electric vehicles, electronics, and energy…
India Ratings and Research have revised upward their GDP growth estimate for FY25 to 7.1%,…
The Spanish football giants, Real Madrid, have etched another remarkable achievement in their illustrious history…
Indian-origin astronaut Sunita Williams, alongside colleague Butch Wilmore, is embarking on her third space mission…
West Bengal, a state rich in history and cultural heritage, has seen a succession of…
In a significant political development, José Raúl Mulino has emerged victorious in Panama's presidential election,…