More than 14k guarantees approved under CGTMSE in Nagaland

Dimapur — A total of 14,306 guarantees amounting to INR 732 crore have been approved under Credit Guarantee Scheme for Micro and Small Enterprise (CGTMSE) in Nagaland since inception in 2000 till February 28, 2023.

This was informed by Minister of State for Micro, Small and Medium Enterprises, Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on Monday.

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides credit guarantee to its Member Lending Institutions (MLIs) for the loans extended by them to Micro and Small Enterprises (MSEs) without any collateral security or third party guarantee.

According to the minister’s report, the CGTMSE has approved a total of 69,04,649 guarantees with a value of INR 4,06,310 crore since its inception in 2000 up until February 28, 2023.

As per the minister’s statement, women-owned micro and small enterprises (MSEs) constitute 21% of the total number of guarantees approved under CGTMSE and 14% of the total value of these guarantees; while MSEs owned by SC/ST account for 6% of the total number of guarantees and 3% of the total value of guarantees approved under the scheme.

Assam has the highest number of guarantees at 1,72,998 with a value of INR 8,944 crore under the CGTMSE in the Northeast region since its inception in 2000 up until February 28, 2023.

It is followed by Tripura with 19,898 guarantees amounting to INR 813 crore, Nagaland with 14,306 guarantees amounting to INR 732 crore, Manipur with 13,898 guarantees amounting to INR 644 crore, Meghalaya with 13,746 guarantees amounting to INR 813 crore, Arunachal Pradesh with 9,887 guarantees amounting to INR 679 crore, Mizoram with 7,205 guarantees amounting to INR 400 crore, and Sikkim with 4,452 guarantees amounting to INR 248 crore.