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Credit scheme being implemented for SMEs
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SME Times News Bureau | 12 Dec, 2014
The government Thursday said it has introduced credit guarantee fund scheme for small and medium enterprises (SMEs), which will provide them with working capital loans from lending institutions.
According to Minister of State (MoS) for Micro, Small and Medium Enterprises (MSME) Giriraj Singh, the scheme will provide term loans up to Rs.1 crore per borrowing unit to small businesses.
The minister informed the Rajya Sabha that the scheme was introduced to mitigate risks involved in disbursing loans to small businesses.
The scheme is being operated by the credit guarantee fund trust for MSME which has been jointly set up by the central government and SIDBI (small industries development bank of India).
Singh said that the government is also implementing various other programmes, including credit linked capital subsidy scheme, performance and credit rating scheme, national manufacturing competitiveness programme, among others, to give a boost to the MSME sector.
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This is scheme is nt newly introduced!
Kaustubh Bhagwat | Wed Dec 24 05:59:33 2014
This scheme was already there & is not newly introduced. The limit was raised from 50 lacs to 1 cr in year 2010. I was availing the guarantee under this scheme since 2006 but had to opt out as our credit crossed the limit of 1 cr. What did Mr. Giriraj do newly? He shud increase the limit to 2.0 cr as the inflation is depleting the value of rupee.
giriraj-singhTHMB.jpg Credit scheme being implemented for SMEs
Kaaraayaarthi Sharma | Sun Dec 21 15:59:51 2014
It is good and small step to create the level playing field for SME but there are lot more issues to be resolved so that SME can also survive as it is the backbone of economy and needs to be supported at other levels lso
credit scheme
rahul kumar | Fri Dec 19 03:59:19 2014
All the credit schemes are for mfrs is there any scheme for traders also so that they can overcome their shortfall and flourish in india
MSME Capital limit
sudhir sonawane | Thu Dec 18 08:56:10 2014
Dear sir , good new for the new limit of MSME Up to 1 cr.
Thanks & regards of Mr.Giriraj singh ji.
Capital subsidy on term loan -CLCSS
Patel High-tech engineering - Suresh.R | Fri Dec 12 05:33:23 2014
Ministry of MSME are rejecting application under this scheme if there is some delay in submitting the application their Bankers are unable up load the documents. The ministry should give 12 months time to apply for subsidy under the above.The existing subsidy scheme is no doubt helpful,but many SME's are unaware of the time period and so it will very useful if the time is extended by 12 months to submit the required documents to their respective Bankers.
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