The Government has taken a number of steps to facilitate access of credit to Micro, Small and Medium Enterprises (MSMEs). Some of these steps are, Credit Guarantee Scheme for Micro and Small Enterprises, under which Credit Guarantee Fund Trust for Micro and Small Enterprises provides guarantee to its Member Lending Institutions (MLIs) for the credit extended by them to Micro and Small Enterprises.
Collateral free loan up to a limit of Rs. 500 lakh to Micro and Small Enterprises, with a guarantee coverage up to 85 % for various categories of loan is provided under Credit Guarantee Scheme. Since inception of the scheme till 30.06.2024, 91.76 lakh guarantees were approved involving an amount of Rs. 6.78 lakh crore.
Prime Minister’s Employment Generation Programme (PMEGP) is a major credit-linked subsidy programme which aims at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and rural/urban unemployed youth.
A loan of upto Rs. 50 lakh for manufacturing sector and Rs. 20 lakh for service sector is provided under the scheme. Since inception, more than 9.69 lakh micro enterprises have been assisted with a Margin Money subsidy of more than Rs. 25,500 crore providing employment to an estimated 79 lakh persons.
Trade Receivables electronic Discounting System (TReDS) is a platform for financing/discounting of trade receivables of Micro, Small and Medium Enterprises. On these platforms, the financing of Factoring Units (FUs) helps in improving the access to finance by MSMEs.
As informed by SIDBI, as on May, 2024, four digital platforms have been authorized to carry TReDS operations in the country. There are more than 5,000 buyers and over 53 Banks/13 NBFC registered as financers.
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Heartiest congratulations to Team GJC on acquiring our own office. This marks a new milestone for the team. Wishing you greater success and many more achievements ahead 💐💐
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Congratulations to Team GJC on the inauguration of the new office. Best wishes from Team Heera Zhaveraat.
Read more:
https://heerazhaveraat.com/gjc-inaugurates-new-office-welcomes-economic-measures-and-presents-structured-roadmap/
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