FM Nirmala Sitharaman Explains How Collateral-Free Loans Helped MSMEs Survive COVID

Finance Minister Nirmala Sitharaman explained how the government’s Emergency Credit Guarantee Scheme supported businesses during the COVID crisis. Under the scheme, MSMEs received additional working capital loans without collateral, with the government standing as guarantor. The initiative helped businesses protect jobs, survive the pandemic slowdown, and contribute to India becoming one of the world’s fastest-growing economies.