Additional Development Commissioner, MSME exhorts entrepreneurs to derive benefits of newly launched schemes
The MSME Development and Facilitation Office, Ludhiana, under the Ministry of Micro, Small and Medium Enterprises, in association with Credit Guarantee Scheme for Micro and Small Enterprises, Mumbai, organized a one-day seminar at PHD Chamber House, Chandigarh today, June 28, 2024. The one-day seminar was held in the UT of Chandigarh to create awareness about Credit Guarantee Scheme for Micro and Small Enterprises and Self Reliant India Fund scheme of M/o MSME among the MSMEs, Financial Institutions and Industrial associations of Chandigarh.
Chief Guest and Additional Development Commissioner, MSME DFO Ludhiana and Karnal, Shri Sanjeev Chawla addressed the gathering of entrepreneurs and encouraged the MSMEs to avail the benefits of Credit Guarantee Scheme for Micro and Small Enterprises and Self Reliant India Fund Scheme. He also shared insights on the new schemes of Ministry of MSME such as GIFT scheme, TReDS scheme and TEAM initiative, which was launched on MSME Day on 27th June, 2024.
The event commenced with the welcome of the dignitaries, expert speakers, associations and bankers by Smt. Ishita Thaman, Assistant Director, MSME DFO Ludhiana, who set the context for the seminar. Shri Sanjiv Singh Sethi, Co-Chair, Punjab, PHDCCI shared his views and provided the industry’s perspective on the credit needs of the MSMEs.
Shri MSRK Murty, Chief Assistant General Manager, CGTMSE, Mumbai shared the details about the Credit Guarantee Scheme which offers collateral-free loans to Micro and Small Enterprises up to Rs.5 crores.
Shri Rishi Bhatia, Chief Manager, Finance, NSIC Venture Capital Fund Limited (NVCFL) discussed in detail about the Self Reliant India Fund scheme and also shared the success story of the MSMEs which have availed benefits under the scheme.
Dr. Rajesh Prasad, Convener, Union Territory Level Bankers’ Committee (UTLBC), Chandigarh and Haryana shared the bankers’ perspective and motivated MSMEs to apply for the Credit Guarantee Scheme.
Assistant Director, MSME DFO Ludhiana, Shri Wazir Singh, gave the vote of thanks to the dignitaries, speakers, associations, bankers and MSMEs for their active participation.
About the schemes:
Credit Guarantee Scheme for Micro and Small Enterprises encourages first generation entrepreneurs to venture into self-employment opportunities by facilitating credit guarantee support for collateral fee /third party guarantee-free loans to MSEs, especially in the absence of collateral. CGTMSE guarantee being sovereign in nature, gives more comfort to the lending institutions in extending credit facility to MSEs.Also, no capital charge / provisioning is required to be maintained by the MLIs on the credit facilities covered under credit guarantee scheme of CGTMSE. It also acts as an alternative risk mitigator , especially for borrowers with limited or no realizable assets.As on 31st March 2024, 23464 guarantees amounting to 2,112 crores have been approved by CGSMSE, Chandigarh. More details are available on https://www.cgtmse.in/.
More information on Self Reliant India Fund scheme can be found here :
https://dcmsme.gov.in/CLCS_TUS_Scheme/SRI_Fund/Scheme_Guidelines.aspx
ZED Scheme Certification aims to promote Zero Defect Zero Effect (ZED) practices amongst MSMEs in order to encourage and enable MSMEs for manufacturing of quality products using latest technology, tools & to constantly upgrade their processes for achievement of high quality and high productivity with the least effect on the environment. It also targets to develop an Ecosystem for ZED Manufacturing in MSMEs, for enhancing competitiveness and enabling exports. More details are available on https://zed.msme.gov.in/
Green Investment and Financing for Transformation Scheme aims to provide support to the MSMEs in accessing institutional finance at a concessional rate for adopting clean / green technologies like Renewable Energy, solar panels , LED lighting , Smart energy management systems , waste management , rainwater harvesting etc. and help them to transform into green and sustainable business operations. More details are available on https://green.msme.gov.in/
