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Being a developing country, India has quite a number of micro and small enterprises. Considering this particular scenario of the Indian economy, the Government of India has introduced CGTMSE Scheme. There are several perks to this scheme as well. It has benefited most of these enterprises in building their business and renewing them.
CGTMSE stands for Credit Guarantee Fund Trust for Micro and Small Enterprises. Currently there are many micro and small enterprises running. And the government always wants to help the businesses to grow. Considering this scenario, the government has introduced the CGTMSE scheme. It has benefited most of these enterprises in building their business and renewing them.
1. The scheme aims at strengthening the credit lending facility overall.
2. CGTMSE scheme introduces a ‘Hybrid Security’ product. It allows the borrower to get a guarantee cover on that portion of the credit facility which is not covered by the collateral security.
3. Under this scheme the government helps to extend the credit facility up to Rs. 2 crores.
4. Guarantee cover will exist until the total tenure of the loan credit.
5. The scheme aims to acquire term loans & working capital utilities from the same organisation.
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