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I am optimistic that the role played by CGTMSE, as an enabler in the financial ecosystem will continue to benefit the new generation entrepreneurs in their entrepreneurial journey


Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), has established itself as a vital institution in facilitating flow of collateral free credit to units in Micro and Small Enterprises (MSE) sector in the last 18 years of its existence. CGTMSE has introduced various structural changes in the current guarantee schemes which would make the schemes more attractive to the MLIs and would enable increased credit flow to the MSE Sector.


During the event Rebooting CGTMSE held on February 20, 2018, CGTMSE announced and subsequently, implemented various policy reforms such as charging of fee on outstanding loan instead of sanctioned amount to incentivise the disciplined borrowers with good repayment track, inclusion of retail trade as eligible activity under CGS, allowing partial collateral security, increase in the extent of guarantee coverage to 75% from existing 50% for loans above 50 lakh.


CGTMSE is engaged in creation of a portal with in-built analytics mechanism to extend in principle approval for credit guarantee to MSE applying for it on the portal. This may give impetus to entrepreneurship and flow of credit to MSEs.


CGTMSE has leveraged technology to achieve this scale and the entire operations are carried out online. With a view to improving the operational processes and provide better service to its Member Lending Institutions (MLIs), the Trust further upgraded its technology for enhanced efficiency and better customer service.

During FY 2018, a total of 2,63,195 guarantees have been approved for an amount of 19,066 crore. Cumulatively, as on March 31, 2018, a total of 30,29,948 accounts have been accorded guarantee approvals for 1,46,829 crore. It is promising to note that the positive impact that CGTMSE had on credit flow to the MSE Sector has been recognized by the Government of India.


CGTMSE has always encouraged sharing of views and experiences amongst institutions engaged in similar activities all over the world. During the year, the Trust had active interactions with the members of Asian Credit Supplementation Institution Confederation (ACSIC).

I am optimistic that the role played by CGTMSE, as an enabler in the financial eco-system will continue to benefit the new generation entrepreneurs in their entrepreneurial journey. This role played by CGTMSE would not have been possible without the active support and co-operation received from Government of India, Reserve Bank of India, Small Industries Development Bank of India, all Member Lending Institutions and other national and international partner agencies. I extend my sincere appreciation to all the stakeholders for their co-operation and firmly believe that with their continued active support, CGTMSE would continue to scale greater heights.

With regards,
Mohammad Mustafa, I.A.S.
Chairman, CGTMSE

Place: Mumbai
Date: September 21, 2018

 

 

 

 

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