Govt. promotes Credit Guarantee Scheme for MSMEs to empower first-generation entrepreneurs with collateral-free loans
07 Jul 2025, 16:34 GMT+10
New Delhi [India], July 7 (ANI): The Ministry of Micro, Small & Medium Enterprises (MSME), Government of India, is actively promoting the Credit Guarantee Scheme for Micro & Small Enterprises (CGTMSE) to empower first-generation entrepreneurs and foster self-employment opportunities. According to the Ministry of MSME, this initiative provides vital credit guarantee support to MSMEs for collateral-free loans, enabling Micro and Small Enterprises (MSEs) to access financial assistance without the need for traditional collateral or third-party guarantees. Under the CGTMSE, eligible businesses can secure loans of up to Rs 10 crore, with the extent of guarantee coverage ranging from 75 per cent to 90 per cent, depending on the profile and risk assessment of the borrower.This scheme applies to all Micro and Small Enterprises (MSEs).Applicants can avail of this benefit by approaching Member Lending Institutions, including banks and Non-Banking Financial Companies (NBFCs), that are partnered with the CGTMSE framework. According to the ministry, there are an estimated 26 million micro and small enterprises (MSEs) in the country providing employment to an estimated 60 million persons.Under this scheme, both the existing and the new enterprises are eligible for credit-free loans under the scheme.The scheme was formally launched on August 30, 2000 and is operational with effect from 1st January 2000. The corpus of CGTMSE is being contributed by the Government and SIDBI in the ratio of 4:1, respectively.
As of July 1, 2025, loans of Rs 10,26,145 crore have been approved under the scheme against over 1.2 crore guarantees. Maximum loan under the scheme is approved for Maharashtra of Rs 1,26,521 crore, Uttar Pradesh at number two at Rs 1,04,856 crore, followed by Gujarat with a loan approval under the scheme at Rs 85,160 crore. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
16 minutes ago
- India Today
Devendra Fadnavis orders probe into hotel deal involving Shinde Sena minister's son
Maharashtra Chief Minister Devendra Fadnavis on Monday announced a high-level inquiry to ascertain any irregularities in the tendering process to auction a hotel in Chhatrapati Sena MLA and state minister Sanjay Shirsat had come under fire after the opposition pointed out that his son's company was one of the three Danve, leader of the opposition in the legislative council, raised the issue through a calling attention The VITS Hotel in Chhatrapati Sambhajinagar belonged to Dhanda Corporation, a company listed on the Bombay Stock Exchange. The properties of the Dhanada Corporation, including the VITS Hotel, were seized under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, court ordered the auction of the hotel. Accordingly, the Chhatrapati Sambhajinagar collectorate conducted to the government-registered valuer's report in December 2018, the value of the hotel was Rs 75.92 crore. In 2025, when the property is being auctioned, the value is pegged as per the 2018 valuation. The value of the hotel is Rs 150 crore now as per private valuers, Danve alleged the lack of transparency in the auction process. He said three companies joined the process including M/s Siddhant Material Procurement and Suppliers Company. He said the company belongs to Maharashtra Social Justice Minister Sanjay Shirsat's son alleged that the company's registration form states that it had applied for registration in 2024 but has not yet been alleged cartelisation in the tendering process. M/s Siddhant Material Procurement and Suppliers Company bid for the company at the price of Rs 47 crore. The next two bidders bid with a difference of just Rs 5 lakh each- at Rs 46.95 and Rs 46.90 crore."This is a fraud and the government is being defrauded in a big way. Sidhant Shirsat is the son of Social Justice Minister Sanjay Shirsat. There is no ITR. What action will be taken against the government officer who allowed this irregularity," Danve said Revenue Minister Chandrashekhar Bawankule had stated that the entire process has been scrapped and a new process will be initiated to float fresh tenders."There will be a high-level inquiry to probe if there are any irregularities in this case to ensure transparency," he said the tender and the process have been cancelled. He said tenders were floated six times in the past but no bid was received. In the process, the base price and conditions kept coming said new tender will be on the council, Shirsat stated that the tender had been floated six times in the past but received no bid. He also said the tendering process was being carried out as per the court's flak, Shirsat last month said he was asking his son Siddhant to withdraw from the race to procure a hotel.- EndsTune InMust Watch IN THIS STORY#Maharashtra
News18
16 minutes ago
- News18
BRICS Undermining US Interests, Trump To Ensure 'Fair Treatment': White House
Last Updated: White House Press Secretary Karoline Leavitt stated that President Trump believes that BRICS Summit is seeking to "undermine" the interests of the United States. As the BRICS Summit concluded on Monday, President Donald Trump believes that the bloc is seeking to 'undermine" the interests of the United States, the White House stated. It was further added that the US President intends to ensure that America is 'fairly treated on the world stage". While addressing a press briefing on Monday (local time), Press Secretary Karoline Leavitt stated that Trump will take any necessary action to prevent nations from taking 'advantage of the US and its people". 'The President feels that BRICS is seeking to undermine the interests of the United States. It's the President's utmost responsibility to put the interests of the United States first. That's how he views his job as the President. So, he's going to ensure that America is fairly treated on the world stage, and he'll take any action necessary to prevent countries from taking advantage of the United States and our people." She stated that Trump is "closely monitoring" the BRICS Summit, and he perceives these nations as trying to undermine the US interests. #WATCH | On US President Trump threatening extra 10% tariff on nations supporting 'anti-America" policies of BRICS nations, White House Press Secretary Karoline Leavitt says, 'The President feels that BRICS is seeking to undermine the United States' interests. It's the… — ANI (@ANI) July 7, 2025 The 17th BRICS Summit, hosted by Brazil in Rio de Janeiro on July 6-7, brought together leaders from Brazil, Russia, India, China, South Africa, and new members Egypt, Ethiopia, Iran, the UAE, and Indonesia for the meeting. The White House's remarks come after Trump issued a strong warning to countries supporting what he termed the anti-American policies of BRICS. "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter," Trump posted on Truth Social. (With agency inputs) First Published: July 08, 2025, 08:07 IST
Time of India
17 minutes ago
- Time of India
Centre submits sealed Nicobar report to NGT
Representative image NEW DELHI: The Centre on Monday submitted to National Green Tribunal (NGT), in a sealed envelope, the report of the high-powered committee (HPC) set up by it in 2023 to revisit green clearances for the Rs 81,000-crore Great Nicobar Island mega infrastructure project. The report is unlikely to be made public, with the environment ministry having earlier cited national security as grounds for keeping it under wraps. Spread over 16,610 hectares, the ambitious project has multiple components, including construction of an integrated international container transshipment terminal, a township, a civil and military use airport and a 450 MVA gasand solar-based power plant. Apart from the HPC's report, the environment ministry, in an additional affidavit before the NGT on Monday, submitted that Rs 80 crore has been released till Mar towards wildlife conservation plans and healthcare. The NGT is hearing an ongoing matter on alleged environmental violations in the project. The HPC, headed by the environment secretary, was constituted by the tribunal. In Dec last year, the environment ministry told Parliament that the HPC report had not been made public as it takes up issues and facts related to the strategic interests and security of the country.
