MSME credit guarantee scheme gets a massive boost: Now, individual entrepreneurs can also apply for loans

The government has today approved the inclusion of individual loans under its ambitious Emergency Credit Line Guarantee Scheme (ECLGS). “Taking into account the remaining headroom under the Scheme and after consultations with stakeholders, it is now intended to include individual loans for  business purposes within the ambit of ECLGS,” the Finance Ministry said on Saturday, ET Now reported. As Prime Minister Narendra Modi continues to push for making India self-reliant and as the MSME sector plays an instrumental role in the same, several steps have been taken to strengthen the sector.