{"id":1325,"date":"2023-04-28T00:00:00","date_gmt":"2023-04-28T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/28-04-2023\/revamped-cgtmse-scheme\/"},"modified":"2023-04-28T00:00:00","modified_gmt":"2023-04-28T00:00:00","slug":"revamped-cgtmse-scheme","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/28-04-2023\/revamped-cgtmse-scheme","title":{"rendered":"Revamped CGTMSE Scheme"},"content":{"rendered":"<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong><u>In News<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong>CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) <\/strong><\/span><\/span><\/span><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">has been provided with an additional corpus support of ?9,000 crore in the Union Budget for FY 2023-24 to revamp its Scheme to provide guarantee for additional ?2 lakh crore to <\/span><\/span><\/span><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong>Micro &#038; Small Enterprises.<\/strong><\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong><u>More changes in CGTMSE<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">The modifications included reduction in guarantee fees for loans up to ?1 crore by 50% bringing the minimum guarantee fee to the level of 0.37% pa only.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Another major change announced was raising of ceiling for guarantee from ?2 crore to ? 5 crore<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Enhancing the threshold limit for claim settlement without initiation of legal action to ?10 lakh.<\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong><u>What is CGTMSE?<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">CGTMSE is jointly set up by the Ministry of Micro, Small &#038; Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (SIDBI) to catalyze flow of institutional credit to Micro &#038; Small Enterprises (MSEs).<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Established in 2000, CGTMSE has been instrumental in providing:<\/span><\/span><\/span><\/li>\n<\/ul>\n<p style=\"margin-left:48px\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong>Guarantee cover <\/strong><\/span><\/span><\/span><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">to collateral and\/or third party guarantee free credit facilities\u00a0<\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">CGTMSE has created a new landmark by touching the milestone figure of approving guarantees worth `1 lakh crore during FY 2022 &#8211; 23.<\/span><\/span><\/span><\/li>\n<\/ul>\n<div>\n<table cellspacing=\"0\" style=\"border-collapse:collapse; border:none; width:600px\">\n<tbody>\n<tr>\n<td style=\"background-color:#1253ca; border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#ffffff\"><strong>CLASSIFICATION<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"background-color:#1253ca; border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#ffffff\"><strong>MICRO<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"background-color:#1253ca; border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#ffffff\"><strong>SMALL<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"background-color:#1253ca; border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#ffffff\"><strong>MEDIUM<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p style=\"text-align:center\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong>Manufacturing Enterprises and Enterprises rendering Services<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\u00a0<\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Investment < 1 crore and Turnover <5 crore<\/span><\/span><\/span><\/p>\n<p style=\"text-align:center\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">\u00a0<\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Investment < 10 crore and Turnover <50 crore<\/span><\/span><\/span><\/p>\n<\/td>\n<td style=\"border-bottom:1px solid #cccccc; border-left:1px solid #cccccc; border-right:1px solid #cccccc; border-top:1px solid #cccccc; vertical-align:middle; width:150px\">\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\">Investment < 20 crore and Turnover <250 crore<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"><strong>For further reading on MSME, kindly follow this link <\/strong><\/span><\/span><\/span><a href=\"https:\/\/www.nextias.com\/current-affairs\/14-03-2022\/micro-small-and-medium-enterprises-msmes-sector\" style=\"text-decoration:none\"><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#1155cc\"><u>https:\/\/www.nextias.com\/current-affairs\/14-03-2022\/micro-small-and-medium-enterprises-msmes-sector<\/u><\/span><\/span><\/span><\/a><span style=\"font-size:12pt\"><span style=\"font-family:Arial\"><span style=\"color:#000000\"> <\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) has been provided with an additional corpus support of ?9,000 crore in the Union Budget for FY 2023-24 to revamp its Scheme to provide guarantee for additional ?2 lakh crore to Micro &#038; Small Enterprises. More changes in CGTMSE The modifications included reduction [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[26,46],"class_list":["post-1325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-3","tag-indian-economy-related-issues"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/5429316Screenshot_6.png","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/1325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=1325"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/1325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/1326"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=1325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=1325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=1325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}