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GOVERNMENT EXTENDS MICRO CREDIT GUARANTEE SCHEME UNTIL 2031 WHY IN THE NEWS ? Cabinet Approval: The Union Cabinet has approved the continuation of the Credit Guarantee Fund for Micro Units (CGFMU) for five years, until March 2031. Financial Support: The scheme will facilitate approximately ₹12.6 lakh crore in PM Mudra loans, strengthening collateral-free credit access …
Read MoreWhy in the news? Rise in delinquencies observed in credit card, unsecured, and MSME loans, prompting ICRA to revise banking sector outlook to ‘stable.’ source:bussinessstandard About the Types of Delinquencies: Credit card, unsecured, and MSME loans are experiencing increased delinquencies. Public sector banks show better performance due to higher exposure to performing corporate loans. Private …
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