FM rolls out loan guarantee scheme for tourist guides, travel agenciees

At a time when the tourism sector has been among the worst-hit segments in the economy and small stakeholders have been facing financial difficulties, Finance Minister Nirmala Sitharaman, on Monday, announced that loans will be provided to registered tourist guides and other travel and tourism stakeholders with 100 per cent guarantee. Loans of up to Rs 1 lakh would be available with guarantee to tourist guides licenced at regional or state level. A total of 10,700 regional level tourist guides recognised by the Minister of Tourism and state governments would benefit from the scheme. Further, loans with an upper limit of Rs 10 lakh would be available with 100 per cent guarantee to travel and tourism stakeholders such as travel agencies. A total of 904 stakeholders recognised by the Ministry of Tourism would be under the ambit of the loan guarantee scheme. The Finance Minister said that under the new loan guarantee scheme for Covid affected sectors, working capital or personal loans will be provided to people in tourism sector to discharge liabilities and restart businesses impacted due to Covid-19.

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