Supreme Court Outlines Principles Governing Exercise of Jurisdiction under Article 227  ||  Supreme Court Grants Anticipatory Bail to Pawan Khera in an FIR Filed by Assam Police  ||  SC Issues Guidelines on Summary Judgment in Commercial Suits under Order XIII-A CPC  ||  J&K&L High Court: Post-Conviction NDPS Bail Cannot Rest on Long Incarceration Alone  ||  Gauhati HC: Promotion Cannot be Withheld Merely Because Investigation is Pending Without Chargesheet  ||  Kar HC: Preventive Detention under Goonda Act Cannot Rest on Offences Committed During Juvenile Age  ||  Bombay HC: National Security Justifies Denial of Police Clearance Certificate  ||  Bombay HC: Comic Remarks Without Malicious Intent Not Religious Insult  ||  J&K&L High Court: Scandalous Allegations Against Judicial Officers in Pleadings Impermissible  ||  P&H HC: Writ Petition Against Private Trust's Contractual Employment Dismissed    

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