(a) whether the Government are finalizing a plan for introduction of mutual credit guarantee schemes for Small Scale Industries;
(b) if so, the details thereof; and
(c) by when these are likely to be implemented?
(a) whether the Government are finalizing a plan for introduction of mutual credit guarantee schemes for Small Scale Industries;
(b) if so, the details thereof; and
(c) by when these are likely to be implemented?
MINISTER OF SMALL SCALE INDUSTRIES AND MINISTER OF DEVELOPMENT OF NORTH EASTERN REGION(DR. C. P. THAKUR)
(a) to (c): The Government of India has requested the Credit
Guarantee Fund Trust for Small Industries (CGTSI) to
operationalise the Mutual Credit Guarantee Scheme (MCGS). The
scheme aims to provide collateral free loans under which CGTSI
gives counter guarantee to Mutual Credit Guarantee Funds set up by
Industry Associations in respect of credit availed by their member
small scale industrial units from the dedicated banks. The CGTSI
has already started consultations with industry associations
seeking their interest in setting up the MCGS.