The National Bank for Agriculture and Rural Development (NABARD) has launched the ‘Structured Finance and Partial Guarantee Program for NBFC-MFIs,‘ a dedicated debt and credit guarantee offering, to ensure unhindered credit flow to the last mile in rural areas impacted by COVID-19. As outlined in this scheme, NABARD would offer a partial guarantee on pooled loans issued to small and medium-sized MFIs. The initiative also helped draw vast numbers of traditional banks and small financial institutions to join with NABARD as a guarantor and a compelling product build in place, the statement said. The project, NABARD said in a statement, is projected to reach more than 1 million households across 28 states and 650 districts.
This editorial discusses what steps needed to be taken to revive the economy. This news is related to the topic, the Indian economy of GS 3. Click to read the article