A revamped ‘model skill loan scheme’ for skill development courses was launched by the government on Thursday, with a fresh maximum loan limit of Rs 7.5 lakh — up from the previous amount of Rs 1.5 lakh. In her budget speech on Tuesday, Finance Minister Nirmala Sitharaman had announced that the model skill loan scheme will be “revised to facilitate loans up to Rs 7.5 lakh, with a guarantee from a government-promoted fund”. “This is expected to help 25,000 students every year,” Sitharaman had said. Launched in 2015, the reversion…
Tag: loans
Banks see a boom in capex loans
[ad_1] With the demand for project finance picking up since late last year, bankers believe that the long-term fund requirement should rise anywhere between 12-15% this year. Bank credit deployed in the infrastructure segment grew 10.2% year-on-year in April 2022, with roads, telecom and electricity leading the pack. According to the Reserve Bank of India, the outstanding credit to the sector stood at Rs 12 trillion by the end of March.reserve Bank of India, As a result, banks are now gearing up to meet the demand for infrastructure projects in…