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Who has launched (27th April 2023) the revamped Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme?
A)
Narayan Rane
B)
Uddhav Thackeray
C)
Sanjay Raut
D)
Eknath Shinde

Correct Answer :   Narayan Rane


Union Minister for MSME Shri Narayan Rane launched the revamped CGTMSE Scheme in Mumbai 27th April 2023.

* CGTMSE 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 & Small Enterprises.

* Accordingly, the major revamp measures were launched and disseminated to the lending institutions. The modifications included reduction in guarantee fees for loans upto ₹1 crore by 50% bringing the minimum guarantee fee to the level of 0.37% pa only.

* Another major change announced was raising of ceiling for guarantee from ₹2 crore to ₹ 5 crore and enhancing the threshold limit for claim settlement without initiation of legal action to ₹10 lakh.

* While launching the revamp measures Shri Narayan Rane impressed upon the lending institutions to make best use of liberalisation to ensure enhanced lending to the MSE Segment without insisting for collateral.

* He expressed confidence that such measures would enthuse bankers to reduce their dependence on availability of collateral security which continues to be a problem for MSEs, especially the first generation entrepreneurs..

Source : PIB

Published On : April 28, 2023
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