Extension of Credit Guarantee Scheme for Subordinate Debt

On 4th October, 2021, the Ministry of Micro, Small & Medium Enterprises extended the Credit Guarantee Scheme for Subordinate Debt (CGSSD). The scheme will now remain operational till 31.03.2022.

About CGSSD

  • Also called as “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”, it was launched on May 13, 2020, under the Atma Nirbhar Bharat Package.

Aim

  • 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.

Implementation

  • Promoter(s) of the MSMEs will be given credit equal to ....
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