Credit guarantee scheme for subordinate debt - Latest News Update, Information, Photos & Videos on Credit guarantee scheme for subordinate debt at Lokmat Times

The Central government has decided to extend the Credit Guarantee Scheme for Subordinate Debt (CGSSD) for six months till March 31, 2022.As per a press release issued by the Ministry of Micro, Small and Medium Enterprises (MSMEs) on Monday, the scheme, which was to remain operational till September 31, 2021, has been extended for six months on the basis of requests received from the stakeholders.The government had announced the creation of 'Distressed Assets Fund- - Subordinate Debt for Stressed MSMEs' on May 13, 2020, under the Atma Nirbhar Bharat Package."Accordingly, a scheme viz. 'CGSSD' was approved by the government on June 1, 2020, and was subsequently launched on June 24, 2020, to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the lending institutions," it added.The release said the scheme, which was to remain operational till March 31, 2021, was initially extended till September to keep the avenues of assistance to stressed MSME units open.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Credit guarantee scheme for subordinate debt, Latest News

National :Centre extends 'Credit Guarantee Scheme for Subordinate Debt' till March 31

The Central government has decided to extend the Credit Guarantee Scheme for Subordinate Debt (CGSSD) for six months till March 31, 2022. ...