Boosting Delhi’s entrepreneurial spirit, CM Rekha Gupta rolled out the Delhi Credit Guarantee Scheme via an MoU with CGTMSE at the Secretariat. This policy masterpiece targets the credit crunch plaguing micro and small businesses, offering collateral-free loans up to Rs 10 crore to fuel expansion.
Gupta painted a vivid picture: young innovators in manufacturing, services, and beyond can now bypass guarantee hurdles. Banks gain confidence with 95% coverage—CGTMSE at 75-90%, state at the remainder—dropping their risk to a mere 5%. The Rs 50 crore fund, designed with 50:1 leverage, unlocks Rs 2,500 crore, expandable as needed, under a 10% NPA safeguard.
No beneficiary limits mean every qualifying MSE can tap in, with extras for debut entrepreneurs and women. Attendees including Minister Sirsa praised its potential to supercharge jobs and inclusive development. ‘This historic reform serves 10 lakh MSMEs, including 2 lakh manufacturers, shattering collateral myths,’ Sirsa asserted.
By easing traditional banking pains like property pledges, the scheme heralds a new era. Gupta stressed its role in crafting a resilient MSE landscape, aligning with visions of a thriving, developed Delhi where innovation drives progress.