News Letter

News Letter

Azadi Ka Amrit Mahotsav 2022 Theme, Logo, Poster, Drawing, Certificate  Website @amritmahotsav.nic.in – Police Results8th Oct 2022

Establishment of Credit Guarantee Scheme for Startups (CGSS) for collateral free loan up to 10 crores:

The Govt. has notified the credit guarantees to loans extended by Scheduled Commercial Banks, NBFCs & other authorized Financial institutions to an eligible borrower up to 10 crores on or after 6th Oct’22.

A dedicated credit guarantee for DPIIT recognized startups will address the issue of unavailability of collateral free loan and enable flow of financial assistance to innovative startups through their journey to becoming full-fledged business entities. The Scheme further reiterates Government’s focus towards promoting innovation and fostering entrepreneurship for making Indian startup ecosystem the best in the world. 

Eligibility criteria for availing collateral-free loans under the Credit Guarantee Scheme for Startups (CGSS)

  1. Start-ups that have reached the stage of stable revenue over a 12-month period as assessed by audited monthly statements.
  2. Start-ups should be amenable to debt financing as an option. 
  3. No default to any lending/investing institution 
  4. Not classified as a non-performing asset (NPA) according to RBI guidelines
The credit facility being covered under this scheme (CGSS) should not be covered by any other guarantee scheme. 

 

 For more details please check the Government  notification

Press release

30th June’22

Scheme of MSME Exporters

PM Modi Launches Rs 6,000-Cr Scheme for MSMEs, New Initiative for First-Time Exporters & launched a number of initiatives including the ‘Raising and Accelerating MSME Performance’ (RAMP), and the ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme. He also flagged off new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) to ramp up the MSME sector. 

for more details

Details from MSME Site

 

Resolution of Insolvency & Bankruptcy for MSME Entities Through IBC   (AMENDMENT) Ordinance On April 4th 2021.

Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC).An ordinance is  promulgated on April 4.

Many MSMEs have been impacted by the corona virus pandemic and experts opined that the latest amendment, which comes less than two weeks after the suspension of certain IBC provisions ended, is a welcome move. Read more

                   April,04,2021 

Asian Development Bank lends Rs 295 crore to Northern Arc Capital

The rupee-denominated loan has been disbursed as part of ADB’s ongoing COVID-19 response, it said Monday. Northern Arc Capital will use it to extend loans proceeds and provide guarantees to financial institutions and individual borrowers Read More

Dec,22,2020


Banks Sanction Rs 2.05 Lakh Cr to 81 Lakh MSMEs

The Finance Ministry on 11,Dec’20 said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions caused due to the coronavirus pandemic Read More

Dec,11,2020


3.5 lakh MSME units in Uttar Pradesh get Rs 10,000 crore at loan mela

Uttar Pradesh Government on 3 Dec’20  disbursed loan to the tune of Rs 10390 crore to 354825 MSME units and tools kits to 5000 trained under the one distinct one product schemes during a special online loan mela organized. Read More     

Dec 04.2020


Uttar Pradesh Govt Committed to Provide assistance to MSME For Development

On 3 Dec,2020 Uttar Pradesh Government committed to providing all necessary assistance for development of (MSME) and traditional craftsmen as they form the base for realising the dream of a self-reliant India, an official release said here.There should be no scarcity of capital for youths who want to start a new venture, and loans are being provided to entrepreneurs as per their requirements, the chief minister said. Read More

Dec,03,2020


Yes Bank Plans To Disburse 10000 Cr Retail MSME Loans in December Quarter.

YES Bank plans to disburse ₹10,000 crore of loans to retail and micro, small and medium enterprises by the end of third quarter  and is looking to double its assets and liabilities in the segments by 2023. Read More    

Dec,01 2020


 
Latest News
Asian Development Bank lends Rs 295 crore to Northern Arc Capital
Banks Sanction Rs 2.05 Lakh Cr to 81 Lakh MSMEs
3.5 lakh MSME units in Uttar Pradesh get Rs 10,000 crore at loan mela
Court Direct Centres to Execute Plan to forgo interest on MSME & other seven Categories of loans,

The eight categories of loans are MSME, Education, Housing, Consumer durable, Credit card, Automobile, Personal, and Consumption.On 27 Nov,2020 The Court directed, government to ensure that all steps be taken to implement its decision to forego interest on eight specified categories of loans paid up to ₹ 2 crore in view of the coronavirus pandemic Read More

27 Nov,2020


Govt of India Extend Credit Guarantee Scheme to cover 26 stressed Sectors

The Government of India extended the scope of  Credit Guarantee by raising upper debt limit to include 26 worst hit Sectors to revive companies post lockdown and protect employment. Read More   

Nov 26, 2020

 


Hdfc Bank, ICICI Join hands to support SMEs, start-ups

ICCI Bank to support SMEs (small and medium enterprises) and start-ups, has signed an MoU with HDFC Bank.According to the official release, through this association, Read More

Nov, 25 2020


2.65 lakhs crore stimulus package

The Government of India offered a ₹2.65-lakh-crore healing touch to various stressed sectors and individuals under Atmanirbhar Bharat 3.0 stimulus package. Read More

Nov 14,2020

 


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