MSME Minister Nitin Gadkari launches CGSSD

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MSME Minister Nitin Gadkari launches CGSSD

Micro, Small and Medium Enterprises (MSME) Minister Nitin Gadkari today launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD). The scheme will be operationalised through the Credit Guarantee Fund Trust for MSEs (CGTMSE). As per the Scheme, guarantee cover worth Rs 20,000 crore will be provided to the promoters who can take debt from the banks to further invest in their stressed MSMEs as equity

The scheme seeks to extend support to the promoters of the operational MSMEs which are stressed and have become NPA as on 30th April of this year