India considers proposal to guarantee $39 billion of small-business loans

​Under the proposal, small firms will be eligible to borrow an additional 20% of their credit limit, the people said, asking not to be identified as the discussions are private. The extra debt will be fully backed by PM Narendra Modi’s administration, the people said. The government will set up a special fund to pay for any defaults, they said.

from Economy-News-Economic Times https://ift.tt/2Y7Benm