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  4. Collateral-free loans for self help women groups doubled to 20 lakh: Sitharaman

Collateral-free loans for self help women groups doubled to 20 lakh: Sitharaman

Finance Minister Nirmala Sitharaman on Thursday announced to double collateral-free loans to Rs 20 lakh for Self Help women groups that would benefit 7 crore households.

India TV Business Desk India TV Business Desk
New Delhi Updated on: March 26, 2020 15:01 IST
Collateral-free loans for self help women groups doubled to 20 lakh: Sitharaman
Image Source : ANI

Collateral-free loans for self help women groups doubled to 20 lakh: Sitharaman

Finance Minister Nirmala Sitharaman on Thursday announced to double collateral-free loans to Rs 20 lakh for Self Help women groups that would benefit 7 crore households. With this announcement, 63 lakh women self-help groups can avail of collateral-free loans for its operations. Sitharaman said doubling the amount would increase money in the hand of SHGs that will help them to cover the loss caused during to coronavirus lockdown.

The announcement by the finance minister comes as the coronavirus relief measures amid nationwide lockdown. Nirmala Sitharaman announced 'coronavirus economic relief package' of Rs 1.7 lakh crore.

Besides doubling the collateral-free loan, Sitharaman's announcement also included -- 20 crore Jan Dhan Women account holders covered- Ex gratia amount of Rs 500 per month for the next three months. Ujjawala scheme near 8.3 crore BPL families covered in this, so that no running short of cooking medium, for 3 months free cylinders.

Sitharaman's address comes on the second day of the nationwide lockdown called by Prime Minister Narendra Modi on Tuesday. PM urged people to consider this 21-day-long lockdown as 'Curfew' and stay home while maintaining social distancing.

ALSO READ | Sitharaman announces 1.7 lakh cr relief package for those directly affected by COVID-19 lockdown

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