The new policies will act as a big fillip to digital lending startups that look at scaling up operations.
In a major policy shift, she announced that the Mudra scheme loan limit for micro-units would be doubled to Rs 20 lakh. The increase will apply to those entrepreneurs who have repaid their earlier 'Tarun' loans. The move is expected to allow banks to sanction larger loans to credible MSME borrowers.
Alok Mittal, Co-Founder of the digital lending startup Indifi Capital, hailed these changes in the Budget. "The increase in MSME credit guarantee cover to Rs 100 crore is a big positive for the sector. Along with the increased Mudra loan limits, it will enable banks to sanction more significant credits to reliable borrowers", said Mittal.
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