Guarantee Scheme of Credit Guarantee fund for Stand Up India (CGSSI)
The Standup India Scheme provides bank loan over Rs10.00 lakh to Rs100.00 lakh to Scheduled Casts, Scheduled Tribes, and Women beneficiaries to start new projects / green field projects / first time ventures under manufacturing, services or trading in non-farm sector. The Central Government has launched the CGSSI Scheme for the purpose of providing guarantees to loans extended under Stand up India Scheme. The Scheme known as the Credit Guarantee Fund for Stand up India (CGSSI)
Salient features of CGSSI Scheme :
The broad objective of the scheme would be to guarantee credit facilities of over Rs.10 lakh & upto Rs.100 lakh under Stand Up India Scheme sanctioned by Scheduled Commercial Banks and other Lending Institutions.
The CGSSI shall cover assistance of over Rs.10 lakh & up to Rs.100 lakh inclusive of working capital extended by Bank to a single eligible borrower without any collateral security and/or third party guarantees or such amount as may be decided by the CGSSI from time to time.
For further details regarding the scheme please visit www.ncgtc.in