SC: CIRP Need Not Be Set Aside Solely for Fraudulent Filing of Section 9 Plea  ||  Supreme Court: Compromise Decree Passed Without Impleading Necessary Party is Void  ||  SC: Cheque Dishonour Notice Valid if Sent to Drawer’s Address and Received by Family  ||  J&K&L HC: Minority During Attestation Cannot Justify Decades-Long Delay in Challenging Mutation  ||  Bombay HC: WhatsApp Circulation of Objectionable Photos Can Attract SC/ST Act  ||  J&K&L HC: Cardiac Arrest From Stress of Long-Distance Driving is Compensable  ||  Delhi HC: Accused Cannot Delay Trial and Then Rely on Delay to Seek Bail  ||  Calcutta HC: Insurer Must Compensate Child’s Accidental Death Despite Driver’s Fake Licence  ||  Bombay HC Tells X to Take Down Defamatory Post Targeting Serum Institute, CEO Adar Poonawalla  ||  Delhi High Court Restores Arbitral Award in DMRC’s Favour Passed by Employee-Arbitrator    

Centre launches the revamped CGTMSE Scheme - (27 Apr 2023)

Commercial

Union Minister for MSME launched the revamped CGTMSE Scheme (Credit Guarantee Fund Trust for Micro and Small Enterprises Scheme). CGTMSE has been provided with an additional corpus support of Rs. 9,000 crore in the Union Budget for FY 2023-24 to revamp its Scheme to provide guarantee for additional Rs. 2 lakh crore to Micro and Small Enterprises. Accordingly, the major revamp measures were launched and disseminated to the lending institutions.

The modifications included reduction in guarantee fees for loans upto Rs. 1 crore by 50% bringing the minimum guarantee fee to the level of 0.37% pa only. Another major change announced was raising of ceiling for guarantee from Rs. 2 crore to Rs. 5 crore and the threshold limit is enhanced for claim settlement without initiation of legal action to Rs. 10 lakh. While launching the revamp measures Union Minister impressed upon the lending institutions to make best use of liberalisation to ensure enhanced lending to the MSE Segment without insisting for collateral. These measures would enthuse bankers to reduce their dependence on availability of collateral security which continues to be a problem for MSEs, especially the first generation entrepreneurs.

Chairman and Managing Director, SIDBI (who is also the Chairman of CGTMSE) said that, CGTMSE has been taking various initiatives which aims at boosting credit flow to MSEs by making the guarantee Scheme attractive for both MSEs as well as for the lenders. He also indicated that CGTMSE would come out with more schemes and assured the lenders that it would always be nimble footed in responding to their requirements. These measures will go a long way in facilitating collateral free lending to MSEs in the country and thus, to create employment in a big way.

Tags : SCHEME   MEASURE   LAUNCH  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved