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3 months for PSBs to build PCGS 2.0 portfolio

Public sector banks have three months to build up their portfolios to be eligible for the extended Partial Credit Guarantee Scheme (PCGS 2.0), which will be based on actual amounts disbursed within this period, according to guidelines released by the finance ministry on Thursday.

ET Bureau|
Last Updated: May 22, 2020, 07.26 AM IST
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NEW DELHI: Public sector banks have three months to build up their portfolios to be eligible for the extended Partial Credit Guarantee Scheme (PCGS 2.0), which will be based on actual amounts disbursed within this period, according to guidelines released by the finance ministry on Thursday.

Finance minister Nirmala Sitharaman announced extension of the scheme as part of the government’s Rs 20 lakh crore Atmanirbhar package. It was cleared by the Cabinet on Wednesday.

Under the scheme, public sector banks can purchase pooled assets rated BBB+ or above and bonds or commercial paper (CPs) rated AA and below based on ratings on the date of the transaction. However, pooled debt instruments and bonds and CPs issued in the secondary markets are not covered.

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