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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.