Govt set to roll upto Rs 50 lakh loan scheme for women entrepreneurs
The Narendra Modi-led BJP government is all set to roll out collateral-free loan schemes of up to Rs 50 lakh for women entrepreneurs, ET report said.
This provision was also mentioned in BJP's election manifesto.
All aspects of the schemes are being discussed. If found economically feasible, the scheme could roll out as early as July 5.
Here are some of the key aspects of the schemes under discussion:
- Credit Boost - Collateral free credit is one of the main features which the government is discussing for this scheme.
- Contours of Credit - The reported cap value for these schemes is Rs 50 lakh. The final scheme at the time of roll-out could see this value altered as per economic feasibility.
- MUDRA Yojna - The scheme could be launched under the Mudra Yojana which already provides collateral-free loans up to 10 lakh.
The schemes with all its beneficial aspects will also have to be protected from certain negative challenges.
Here are some red flags the government will have a close eye on:
- Bad Loans - The government will have to deal with the general worry over the feasibility and bad loans.
- Risk Analysis - Banks have said that a proper risk analysis is a must before any scheme can be finalised.
- Credit Risk - Former RBI Governor Raghuram Rajan had said that MUDRA loans need to be examined more closely for potential credit risk.
