Home » National » Public Sector Banks have sanctioned collateral-free loans worth three thousand 200 crore under the Atma nirbhar Bharat Abhiyan
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Public Sector Banks have sanctioned collateral-free loans worth three thousand 200 crore under the Atma nirbhar Bharat Abhiyan

Newdelhi2/6/20: Public Sector Banks have sanctioned collateral-free loans worth three thousand 200 crore rupees in a single day under the Atmanirbhar Bharat Abhiyan. Union Finance Minister Nirmala Sitharaman informed that largely the Micro, Small and Medium Enterprises (MSMEs) located in over three thousand TIER-2 towns were covered on the first day of sanctions of the collateral-free loans. The amount sanctioned will help the MSMEs to meet the expenses towards payment of salaries, rent and restocking of goods.

While making announcement of the financial stimulus of over 20 lakh crore rupees under the Atmanirbhar Bharat Abhiyan, Ms. Sitharaman laid out the scheme for Emergency Credit Line Guarantee to the MSMEs. Collateral free loans worth three lakh crore rupees with one-year moratorium was provisioned under the scheme. Under this scheme, MSME and borrowers from other stressed sectors with up to 25 crore rupees of total borrowing were allowed to avail an additional 20 percent of the outstanding loan from banks and other financial institutions. The additional lending by banks and financial institutions is 100 percent guaranteed by the Government of India.

About Ashok Palit

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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