Rehabilitation scheme for Covid-19 affected enterprises fails to woo borrowers

Entrepreneurs say the prerequisites of needing to clear a portion of earlier loans and providing tax clearance certificates are obstacles. Central bank hopes the scheme will have takers as it gets continuity in the new budget.

Vinayak Shah, proprietor of Airport Hotel, gave up seeking loans under the government's Business Continuity Credit scheme after the bank he approached sought repayment of 10 percent of loans that he had borrowed earlier.