SC: General Reference to a Tender’s Arbitration Clause Does Not Incorporate it into a Contract  ||  Supreme Court: Partnership Veil May be Lifted to Detect Illegal Sub-Letting Arrangements  ||  Supreme Court: Lower Dearness Relief For Pensioners than Employees' DA is Arbitrary under Article 14  ||  Supreme Court: NCLT Should Not Assess Merits of Pre-Existing Dispute in Section 9 Applications  ||  Supreme Court Clarifies that the Right to Vote is Not a Fundamental Right But a Statutory Right  ||  Chhattisgarh High Court: Minor’s Voluntary Elopement With a Lover Does Not Constitute Kidnapping  ||  Bombay HC: Staring at Co-Worker’s Chest is Morally Wrong But Does Not Amount to Voyeurism under IPC  ||  Delhi HC: Loss of Confidence in Employees Entrusted With Funds is Valid Ground For Termination  ||  Allahabad High Court: Gram Nyayalaya Has Jurisdiction to Decide Maintenance and Execution Petitions  ||  J&K&L HC: Non-Publication of Sec 4(1) Notice in Gazette and Local Newspapers Vitiates Acquisition    

Partial modification of notification number S.O. 1443(E), dated the 18th April, 2016- (Ministry of Finance ) (01 Jul 2021)

MANU/FNSV/0041/2021

Commercial

In partial modification to the notification of the Government of India in the Ministry of Finance (Department of Financial Services), number S.O. 1443(E), dated the 18th April, 2016, the Central Government hereby makes the following amendments to the Scheme known as the Credit Guarantee Fund for Micro Units (CGFMU) (hereinafter referred to as the said Scheme), namely:-

1. In the said Scheme, in paragraph 2,-

(a) in sub-paragraph (xi), the brackets and words "(Interest rate as stipulated by Mudra; presently not to exceed 12% p.a.)" shall be omitted;

(b) for sub-paragraph (xii), the following sub-paragraph shall be substituted, namely:-

'xii. "Eligible borrower" means new or existing micro unit / enterprise falling under any sector covered under PMMY or as defined in the MSMED Act, 2006 (as amended from time to time), who meets eligibility criteria prescribed by the Fund and whose credit requirement does not exceed the specified limit under PMMY. Specified limit of the loan shall be Rs.10 lakh or such other amount as may be decided by the Fund from time to time. Further, Overdraft loan amount of Rs.10,000/- sanctioned under PMJDY accounts shall also be eligible to be covered under Credit guarantee Fund. Eligible borrower would also mean Self Help Groups who meet eligibility criteria prescribed by the Fund and whose loan amount is above Rs.10 lakh and upto Rs.20 lakh.'.

2. In the said Scheme, in the notes to the attachment, after the words and letters "credit management by MLIs", the following words shall be inserted, namely:-

"This payout cap shall, however, not be applicable on the SHG portfolio."

3. All other terms and conditions of the said Scheme shall remain unchanged.

Tags : PARTIAL MODIFICATION   NOTIFICATION   AMENDMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved