MSME Dev. & Fecilitation Office holds seminar to boost Credit schemes awareness

Chandigarh: The MSME Development and Facilitation Office, Ludhiana, under the Ministry and Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE) , Mumbai, organized a one-day seminar at PHD  House Chandigarh last week. The  seminar was held  to create awareness about Credit Guarantee Scheme for Micro and Small Enterprises and Self Reliant India Fund scheme of M/o MSME among the MSMEs, Financial Institutions and Industrial associations of Chandigarh.

Chief Guest and Addl. Development Commissioner, MSME DFO Ludhiana and Karnal,  Sanjeev Chawla addressed the entrepreneurs and encouraged the MSMEs to avail the benefits of Credit Guarantee Scheme for Micro and Small Enterprises and Self Reliant India Fund Scheme. He also shared insights on the new schemes of Ministry of MSME such as GIFT scheme, TReDS scheme and TEAM initiative, which was launched on MSME Day on  June, 27.

MSRK Murty, CAGM, CGTMSE, Mumbai shared the details about the Credit Guarantee Scheme which offers collateral-free loans to Micro and Small Enterprises up to Rs.5 crores. Rishi Bhatia, Chief Manager, Finance, NSIC Venture Capital Fund  discussed in detail about the Self Reliant India Fund scheme and also shared the success story of the MSMEs which have availed benefits under the scheme.

Dr. Rajesh Prasad, Convener, UT Level Bankers’ Committee, Chandigarh and Haryana shared the bankers’ perspective and motivated MSMEs to apply for the Credit Guarantee Scheme. Assistant Director, MSME DFO Ludhiana, Wazir Singh, gave the vote of thanks to the dignitaries, speakers, associations, bankers and MSMEs for their active participation.

Credit Guarantee Scheme for Micro and Small Enterprises encourages first generation entrepreneurs to venture into self-employment opportunities by facilitating credit guarantee support for collateral fee /third party guarantee-free loans to MSEs, especially in the absence of collateral. CGTMSE guarantee being sovereign in nature, gives more comfort to the lending institutions in extending credit facility to MSEs. Also, no capital charge  provisioning is required to be maintained by the MLIs on the credit facilities covered under credit guarantee scheme of CGTMSE. It also acts as an alternative risk mitigator , especially for borrowers with limited or no realizable assets. As on 31^st March this year, 23464 guarantees, amounting to 2,112 crores have been approved by CGSMSE, Chandigarh.   It was told more details are available on https://www.cgtmse.in/.Information on Self Reliant India Fund scheme can be found here https://www.nvcfl.co.in/Scheme

ZED Scheme Certification aims to promote Zero Defect Zero Effect  practices amongst MSMEs in order to encourage and enable MSMEs for manufacturing of quality products using latest technology, tools & to constantly upgrade their processes for achievement of high quality and high productivity with the least effect on the environment. It also targets to develop an Ecosystem for ZED Manufacturing in MSMEs, for enhancing competitiveness and enabling exports. More details are available on https://zed.msme.gov.in/

Green Investment and Financing for Transformation Scheme aims to provide support to the MSMEs in accessing institutional finance at a concessional rate for adopting clean / green technologies like Renewable Energy, solar panels , LED lighting , Smart energy management systems , waste management , rainwater harvesting etc. and help them to transform into green and sustainable business operations.  (with inputs from PIB Chandigarh)