NABARD plan to finance NBFCs, MFIs

News Today 21-08-2020

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.

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