Credit Guarantee Scheme revamped-Ceiling limit enhanced to Rs 5 cr; annual guarantee fees reduced to 0.37%

• The Government of India has further revamped the Credit Guarantee Scheme to increase the flow of credit to MSEs and to strengthen the MSE Sector. 
• In the revamped scheme, the annual guarantee fees structure have been reduced to 0.37 percent.
• The ceiling for guarantees coverage has been enhanced from Rs 2 crore to Rs 5 crore.
• The initiative is a part of the government’s efforts to strengthen the micro, small and medium enterprises (MSME) sector.