Government extends Credit Guarantee Scheme for Subordinate Debt till Sept 30

  • Industry News
  • Apr 02,21
This move is aimed at keeping avenues of assistance open to the stressed MSME units.
Government extends Credit Guarantee Scheme for Subordinate Debt till Sept 30

Considering the current conditions of pandemic exerting pressure over businesses, and to keep the avenues of assistance to stressed MSME units open, the Government has decided to extend Credit Guarantee Scheme for Subordinate Debt (CGSSD) scheme for six months from March 31 to September 30.

Government had announced creation of ‘Distressed Assets Fund - Subordinate Debt for Stressed MSMEs’ on May 13, 2020, under the AtmaNirbhar Bharat Package. Accordingly, a scheme viz. ‘Credit Guarantee Scheme for Subordinate Debt’ was approved by the Government on June 1, 2020 and the scheme was launched on June 24, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs such as SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the lending institutions. This scheme was to remain in operation till March 31.

Related Stories

Other Industrial Products
The Stainless Steel Renaissance: Forging India’s Sustainable Industrial Legacy

The Stainless Steel Renaissance: Forging India’s Sustainable Industrial Legacy

Stainless steel is emerging as a strategic material powering India’s durable, sustainable and globally competitive manufacturing ecosystem under the Make in India vision, with insights from Rajama..

Read more
Policy Regulation
West Asia war is impacting India's engineering exports: Pankaj Chadha

West Asia war is impacting India's engineering exports: Pankaj Chadha

While India’s engineering goods exports are expected to grow by 5 per cent in FY26 over previous year, the West Asia conflict has significantly impacted outbound shipments, says Pankaj Chadha, Cha..

Read more
Policy Regulation
West Asia conflict: Indian manufacturing sector navigating a systemic shock

West Asia conflict: Indian manufacturing sector navigating a systemic shock

The West Asia conflict has exposed deep structural vulnerabilities in India’s manufacturing ecosystem—spanning energy dependence, supply chains, and export markets—while intensifying pressure ..

Read more

Related Products

Incremental Encoder

Miscellaneous Industrial Supplies

Insys Electrical & Controls offers a wide range of Incremental Encoder

Read more

Request a Quote

Face Mill Arbors

Miscellaneous Industrial Supplies

Schunk Intec India Pvt Ltd offers a wide range of face mill arbors.

Read more

Request a Quote

Reduction Sleeves

Miscellaneous Industrial Supplies

Prominent Machine Tools offers a wide range of reduction sleeves.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016