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In Finances 2023-24, finance minister Nirmala Sitharaman introduced the revamping of credit score assure scheme for micro and small enterprises with impact from April 1, 2023, with an infusion of Rs 9,000 crore to the corpus to allow further collateral-free assured credit score of Rs 2 lakh crore and the discount in the price of the credit score by about 1 per cent.
The restrict on ceiling for ensures has additionally enhanced from Rs 2 crore to Rs 5 crore. Credit score Assure Fund Belief for Micro & Small Enterprises (CGTMSE) has issued pointers on this regard.
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