More than 53 lakh loans had been sanctioned underneath Credit Guarantee Scheme in first quarter of 2021-22
Under the Credit Guarantee Scheme (CGS) of the Centre, loans totalling 53,86,739 had been permitted throughout the first quarter of the present monetary 12 months (2021-22). The interval witnessed a surge within the second wave of the Coronavirus pandemic, which severely hit jobs and companies, particularly small ones.
The scheme, which is carried out by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), cleared loans value Rs 2,72,007 between April-June interval of 2021-22, in accordance with the knowledge supplied by the Ministry of Micro, Small and Medium Enterprises.
CGTMSE reported that assure approvals with respect to banks and non-banking monetary corporations (NBFCs) had been Rs 6,693 crore and Rs 6,603 crore respectively throughout first quarter of 2021-22 as in opposition to Rs 6,041 crore and Rs 2,934 crore respectively throughout the corresponding interval of the earlier fiscal (2020-21).
(*53*) new and current micro and small enterprises engaged in manufacturing or providers together with buying and selling exercise are eligible to be lined underneath CGS.
