Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is jointly set up by Ministry of Micro, Small & Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (SIDBI) to catalyse flow of institutional credit to Micro & Small Enterprises (MSEs). Credit Guarantee Scheme (CGS) was launched to strengthen credit delivery system and to facilitate flow of credit to the MSE sector, create access to finance for unserved, under-served and underprivileged, making availability of finance from conventional lenders to new generation entrepreneurs. Over the past 22 years, CGTMSE has been instrumental in providing guarantee cover to collateral and/or third party guarantee free credit facilities extended by eligible Member Lending Institution [MLIs] to MSEs.
CGTMSE has created a new landmark by touching the milestone figure of approving guarantees worth `1 lakh crore during FY 2022 - 23. This financial achievement has been an outcome of various key initiative implemented during the financial year.
CGTMSE with its untiring efforts and unflinching commitment to enable the economy to touch the landmark figure USD 5 Tn, as set out by the Hon’ble Prime Minister, coupled with several key initiatives, has assumed a greater role of the enabler in the financial eco-system and have fostered an entrepreneurial mindset across the nation.
Taking note of this achievement of CGTMSE, honourable Prime Minister while expressing his happiness, has rightly said, “We are betting on the entrepreneurial zeal of our youth to propel our economy to even greater heights.” In India’s journey of next economic superpower, guaranteeing loans worth `1 lakh Crore in a single FY may just be a new beginning for CGTMSE.
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