Ministry of MSME all set for Rebooting CGTMSE today
New Delhi, Feb 20 (KNN) The Ministry of Micro, Small and Medium Enterprises (MoMSME) is working on rebooting the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
The Ministry along with CGTMSE and SIDBI is organizing the conference on ‘Rebooting CGTMSE’ in the national capital today. Minister of State (I/C) Ministry of MSME, Giriraj Singh will deliver key note address at the event.
Small Industries Development Bank of India (SIDBI) CMD Mohammad Mustafa will speak on What Rebooting CGTMSE is about.
Ram Mohan Mishra, AS & DC (MSME), Ministry of MSME will speak about the role of CGTMSE and there would be a special address by Arun Kumar Panda, Secretary, Ministry of MSME.
There would also be addresses by Rajeev Kumar, Secretary, Department of Financial Services, Ministry of Finance and CGTMSE CEO Subodh Kumar.
The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) was launched by the Government of India (GoI) to make available collateral-free credit to the micro and small enterprise sector.
Both the existing and the new enterprises are eligible to be covered under the scheme.
MoMSME abs SIDBI established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement the Credit Guarantee Fund Scheme for Micro and Small Enterprises. T
he scheme was formally launched on August 30, 2000. The corpus of CGTMSE is being contributed by the GoI and SIDBI in the ratio of 4:1 respectively and has contributed Rs. 2477.78 crore to the corpus of the Trust up to May 31, 2016. As announced in the Package for MSEs, the corpus was to be raised to Rs.2500 crore by the end of 11th Plan. (KNN Bureau)