Assam Credit Guarantee Scheme 2023 Registration Link, Apply Online

Assam Credit Guarantee Scheme, apply online, registration starting date, online application, eligibility criteria, document required, last date of application etc.

State Government of Assam has introduced credit guarantee scheme for MSEs in state. Under this scheme government will provide 75 to 85% of guarantee coverage for credit facilities. Credit facilities depending upon the category of the borrower and the balance 25 to 15% coverage shall be provided by the mistake government. Assam Credit Guarantee yojana will provide overall coverage 100%.

Assam Credit Guarantee Scheme

What is Assam Credit Guarantee Scheme?

Chief minister of Assam has officially launched Credit Guarantee yojana . This scheme launched with a main objective to boost MSME sector and provide them 100% credit guarantee. Under the scheme applicant can get a loan on the behalf of State Government. Main objective to introduce credit guarantee yojana in Assam will securities landing for medium and small businesses in the state. This initiative also help to inject capital and nurture our entrepreneurs.

Benefits of credit guarantee scheme

  • Government will provide benefits of this scheme to MSMs situated in Assam state.
  • This scheme launched to enable small businesses in the state to access formal credit without collateral.
  • This is came will be effective from April 1st and state government has partner with credit guarantee fund trust for micro and small Enterprises.
  • And the project is jointly setup by MSME ministry and small industries Development Bank of India.
  • The member lending institutions which are essentially financial institution registered with national capital guarantee trust company will be eligible for this scheme.

Major highlights:

Topic Name Credit Guarantee Scheme
Launched by CM of Assam
Effective from 1st April
MinistryMSME ministry and small industries Development Bank of India
Application modeonline
Official websitea

Assam Credit Guarantee Scheme objectives and benefits

  • Under this scheme 70 to 85 percent of guarantee coverage or credit facility will be provided by GTMSE (depending upon category of borrower.
  • And the balance 25 to 15 20% coverage shall be provided by government of Assam.
  • This provide overall guarantee coverage 100%.
  • The claim of registered MLIs will be settled with threshold limit of maximum 10% of NPAs of the crystallize portfolio. (the portfolio will be crystal at the end of every financial year).
  • In cases where NPA accessed the 10% limit, only CGTMSE share of clam will be settled at 75 to 85%.

Read More: Recently government has started Assam Jaldoot Scheme Bharti, Application Form, Eligibility, Document Required etc.

Why Need of Assam Credit Guarantee Yojana?

This credit guarantee fund for micro and small Enterprises initially introduced in 2020. This is one of most prominent initiative taken to provide micro and small Enterprises with Collateral free loans. The scheme was introduced with initial outlet of 2500 crore from the government and the small interested Development Bank of India. Later on this was strenghted with an additional 5000 crore rupees. In order to boost the scheme coverage finance minister Nirmala sitaraman in Harbhajan Street as announced an infusion of another 9000 crore in CGTMSE corpus effective from first April.

Eligibility criteria Credit Guarantee Scheme

  • Only Assam state people are able to avail the benefits.
  • All micro and small Enterprises will be eligible to claim credit guarantee.
  • State government will notified there share of guarantee depending upon the category of borrower.

Required document

  • Aadhar card
  • Identity Proof
  • Domicile certificate
  • Passport size photograph
  • Loan documents
  • Mobile number
  • Registration details

Read More: Assam CM Has started online applications for Assam Sva Niyojan Yojana Registration Form PDF, Last date of application

How to apply online for Assam credit guarantee scheme?

As we all know that there are many who are interested and excited to avail the benefits of this scheme. Government Mein invite applications in prescribed format or a dedicated portal. After the announcement of dedicated portal applicants are able to apply online. Till then you need to wait for official announcement.

FAQs

What is Credit Guarantee yojana?
This scheme introduced by Assam government to provide credit guarantee for micro and small Enterprises.

How to apply for Credit Guarantee Scheme?
Applicants can submit their registration through official website.

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