Ref. No. CGTMSE/44/1048 November 18 , 2015

Member Lending Institutions of CGTMSE

Circular No. 102/2015-16

Madam / Dear Sir,

Credit Guarantee Scheme (CGS) - Modification in the Guarantee Claim Settlement Process
Kind Attention : SME/Priority Sector Department

Please refer to our Circular No. 78/2013-14 dated June 09, 2014 (available in our website www.cgtmse.in) wherein we had mentioned that CGTMSE has created online module in its portal whereby the claim application form would be reverted to the MLI duly indicating appropriate nature of deficiency/ies in cases where the claim application form is incomplete or filled incorrectly. The MLIs were expected to re-lodge the claim with the desired additional information and/or correct details particularly in respect of nature of deficiency/ies indicated, while resubmitting the claim in the CGTMSE portal using the menu – "Claim Processing -> Claim Form -> Update Return Claim info".

We observe from our records that as many as 4,800 claims for an amount of 261 crore which were reverted to the MLIs for additional information/filling of correct details are pending for re-lodgment by MLIs. The intimation of the same was also given to the respective MLI ID (Controlling Office) by means of E-mail (system generated) to the E-mail addresses available in the records of CGTMSE. However, we observe that many of the E-mails sent by CGTMSE are returned/ bounced in view of the wrong E-mail address resulting in failure of communication. You are once again requested to advise all your Controlling Offices to resubmit their respective reverted claims by using the above referred menu to enable the Trust to expeditiously settle all the eligible pending claims. Needless to mention, the claims would be visible to CGTMSE for taking appropriate decision on settlement only upon re-lodgment by MLIs.

The Controlling Offices wise list of reverted cases pending for settlement is being separately sent to the SME Head, Head Office of the respective MLI for facilitating follow up and monitoring with their respective Controlling office.

We request you to kindly bring the contents of this Circular to the notice of all your offices.

                                                                                                                                 
Yours faithfully,
Sd/-
(S.S.Bakshee)
General Manager