NEW DELHI, Jan. 7 -- The finance ministry is weighing a plan to guarantee bank borrowings by non-bank lenders to help them ramp up their microfinance operations, two people familiar with the development said. The Union budget is likely to announce the one-time credit guarantee scheme, likely to be managed by the state-run National Credit Guarantee Trustee Co. It will cover and underwrite the lending risk due to factors outside the control of small borrowers. The guarantee is expected to help non-banking financial company-microfinance institutions (NBFC-MFIs) borrow on easier terms, survive a liquidity crunch, and continue lending to millions of low-income households that lack access to traditional banking. The development assumes importance...