Question
What percentage of loan guarantee coverage does the
Mutual Credit Guarantee Scheme (MCGS) provide for MSMEs?Solution
The Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME), approved by the Government of India, provides a 60% guarantee coverage by the National Credit Guarantee Trustee Company (NCGTC) for loans up to βΉ100 crore. This initiative aims to strengthen the MSME manufacturing sector by improving access to credit.
The Bima Sugam platform, soon to be launched by IRDAI, is designed to:
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