1.00 Indian rupee ₹ Credit Guarantee Fund Scheme For Micro and Small Enterprises Mumbai

Published date: December 26, 2020
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  • Location: Mumbai, Mumbai, Maharashtra, India

Credit Guarantee Fund Scheme For Micro and Small Enterprises
Of all the troubles faced by MSEs, the unavailability of timely and sufficient credit at a reasonable interest rate is one of the most important. One of the main causes of the scarce availability of bank financing for this sector is the high risk perception of banks in lending to MSEs and the consequent insistence on collateral that is not readily available with these companies. The problem is more serious for micro-enterprises applying for small loans and for first-generation entrepreneurs. (BBGV261220)

The Micro and Small Business Credit Guarantee Fund (CGS) scheme was launched by the Government of India (GoI) to make unsecured credit available to the micro and small business sector. Mutually existing and new businesses can be covered by the scheme. The Ministry of Small, Micro and Medium Enterprises, GoI and Small Industries Development Bank of India (SIDBI), has recognized a Trust called Credit Guarantee Fund Trust for Micro and Small Business (CGTMSE) to perform the Credit Guarantee Fund Scheme for Micro and Small Enterprises.
The scheme was officially launched on August 30, 2000. The CGTMSE corpus was provided by the GoI and SIDBI in the ratio of 4: 1 respectively and contributed Rs. 2477.78 crore to the Trust corpus until 31 May 2016. As announced in the MSE Package, the corpus was to be raised to Rs. 2500 crore by the end of the 11th floor.


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