Government unveils Rs 100 crore credit guarantee scheme to strengthen MSME manufacturing sector

Quick Summary:

The government approved a Mutual Credit Guarantee Scheme to enhance credit availability for micro, small, and medium manufacturing sectors, under the Make in India initiative.

The scheme provides 60% guarantee coverage for loans up to Rs 100 crore, aiding MSMEs in financing equipment and machinery purchases.

Borrowers must pay 5 per cent of the loan amount upfront when applying for the guarantee cover under the scheme.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: India

Topics: Credit guarantee scheme Financing for manufacturers Business news Make in India MSME sector Plant and machinery loans

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-30 @ 13:54:50 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 888 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25620280

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