Finance Minister Nirmala Sitharaman on Monday announced a credit guarantee scheme worth Rs 1.1 lakh cr for Covid-affected sectors and Rs 50,000 cr for the health sector.Union Finance Minister Nirmala Sitharaman said, "We are announcing about 8 economic relief measures, of which four are absolutely new & one is specific to health infrastructure. For Covid-affected areas, Rs 1.1 lakh crores credit guarantee scheme and Rs 50,000 crores for health sector."

Of the total amount, Rs 50,000 crore for health sector and Rs 60,000 crore for other sectors affected by Covid-19. "Under Credit Guarantee Scheme, which is a new scheme, 25 lakh people to be benefitted. Loan to be given to the smallest borrowers by Microfinance Institutions. A maximum Rs 1.25 lakhs amount to be lent. Focus is on new lending & not on repayment of old loans," Sitharaman said.

Finance Minister Nirmala Sitharaman on Monday announced a credit guarantee scheme worth Rs 1.1 lakh cr for Covid-affected sectors and Rs 50,000 cr for the health sector.Union Finance Minister Nirmala Sitharaman said, "We are announcing about 8 economic relief measures, of which four are absolutely new & one is specific to health infrastructure. For Covid-affected areas, Rs 1.1 lakh crores credit guarantee scheme and Rs 50,000 crores for health sector."

Of the total amount, Rs 50,000 crore for health sector and Rs 60,000 crore for other sectors affected by Covid-19. "Under Credit Guarantee Scheme, which is a new scheme, 25 lakh people to be benefitted. Loan to be given to the smallest borrowers by Microfinance Institutions. A maximum Rs 1.25 lakhs amount to be lent. Focus is on new lending & not on repayment of old loans," Sitharaman said.