Question : Amendment to SFCs Act

(a) whether Moratorium period for PMEGP loans would be provided in near future and if so, the details thereof;
(b) whether the Government proposes to amend SFCs Act giving more leverage to the SFCs with diversification of activities commensurating the present competitive business scenario and if so, the details thereof; and
(c) whether the Government proposes to the Central Government to give any budgetary grant to SFCs against their NPAs and if so, the details thereof?

MINISTER OF STATE IN THE MINISTRY OF FINANCE


(a):The guidelines of Prime Minister’s Employment Generation Programme (PMEGP) already includeprovision regarding moratorium. As per Clause 8.6 of the guidelines,repayment schedule may range between 3 and 7 years after an initial moratorium as may be prescribed by the concerned bank/financial institution.

(b) &(c):No such proposal is under consideration.
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