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Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) celebrates Diwali with coverage of over 2 lakh proposals in FY 2010

 

Mumbai October 15, 2009 - Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), set up by Govt. of India and SIDBI in August 2000, has achieved cumulative coverage of over 2 lakh proposals in FY2010 as at September 30, 2009. During the current financial year, CGTMSE has shown commendable growth in its performance in terms of number and amount of guarantee covers issued under its Credit Guarantee Scheme on all India basis.

 

"CGTMSE provides a new window of hope to the entrepreneurs in setting up their own enterprises, or for diversification, expansion, modification by facilitating extension of collateral free credit through the institutional mechanism. It enables MSE entrepreneurs to avail credit for capacity building, skill development, marketing support and improvement of technology besides meeting working capital and other requirement. As at September 30, 2009, 203739 proposals for Rs.7233 crore had been approved by CGTMSE since inception and the Trust is hopeful of rapidly scaling up the coverage further during FY 2010." opined by Mr.O.S Vinod, CEO, CGTMSE.

 

The Credit Guarantee Scheme (CGS) is operated through a network of banks and Financial Institutions called Member Lending Institutions (MLIs).As at September 30 2009, 97 banks and Financial Institutions are registered with the Trust as MLIs comprising of 27 PSU Banks, 16 Private Sector Banks, 2 Foreign Banks, 47 Regional Rural Banks and 5 other lending institutions (NSIC, NEDFi, SIDBI, TIIC and DFC).

 

About CGTMSE :

 

To address the problem of MSEs in accessing institutional credit in the absence of collateral security and / or third party guarantee, which was hampering growth of the sector, the Government of India and SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) in August 2000. The operations of CGTMSE are conducted on B2B portal through internet. The website of CGTMSE has been hosted at www.cgtmse.in. 

 

 

 

    Other News Article
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    "Modification in extent of guarantee cover : Circular no 51."
    "Total No. of MLIs 125"
    RBI Circular on Collateral Free Loans - Micro and Small Enterprises
    "Awareness Initiative"
    "50,000 Proposals " target achieved in FY-2009
    CGTMSE inks historic pact with SBI
    CGTMSE, SIDBI-PMD & GTZ organises training programme for Bankers in association with D&B, Mumbai
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    CGTMSE organises awareness programme on Credit Guarantee Scheme (CGS) for Bankers/ entrepreneurs in association with ALEAP in Andhra Pradesh
    CGTMSE organises awareness programme on Credit Guarantee Scheme (CGS) for Bankers/enterpreneurs in association with NECCI is Assam
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    New Tender for Procurement of Lotus Licenses
    Working Group to Review the Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) - Collateral free loans to MSEs
    CGTMSE hosted 24th ACSIC Conference
    Request for Proposal (RfP) for Off Roll Personnel HR Process Management (November, 2013)
    Wanted Fresh / Experienced Chartered Accountants (CA's)
    Wanted Retired Senior Bank /Financial Institutions Officials on Contract basis to act as CGTMSE Representatives
    Request for bids for Data Center Hosting and Network Connectivity Services
    Wanted Retired Senior Bank /Financial Institutions Officials on Contract basis to act as CGTMSE Representative at Chennai
    Recruitment of Assistant Managers
    Recruitment of Assistant Managers - Extension in Interview dates
    RfP for empanelment of HR agencies for houskeeping / sanitation services
    Our Toll Free Number is : 1800222659
    Signed MoU with Perusahaan Umum Jaminan Kredit Indonesia (Perum Jamkrindo) on September 30, 2016
    Participation in the 28th Conference of Asian Credit Supplementation Institution Confederation (ACSIC) held at Bali, Indonesia
    Increase in coverage of the eligible credit limit per borrower under the CGS from 100 lakh to 200 lakh
    Guarantee coverage to eligible Non-Banking Finance Companies (NBFCs)
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