Gujarat govt’s recent decision to give loan up to 1 lakh to 10 lakh small traders who are affected by Covid19 has stirred controversy, reports The Week.
The media outlet has alleged that despite promise of no need to have guarantors in the much-touted scheme, people are asked to fetch them.
Quoting the Chief Minister, the media outlet says the amount was to be disbursed to the small businessmen through cooperative banks and cooperative credit society banks. It had been announced that the loans would be given based on applications and without documents.
However, when people went to the loan giving banks they were asked to get two guarantors.