CGTMSE Loan SCHEME

CGTMSE – credit guarantee fund trust for mini and small enterprises scheme is a milestone in providing loans associated with the small industry development bank of India (SIDBI). This is introduced in 2016  August 7th as we know Indians have high entrepreneur nature for the dreamers to fulfill their dreams as an entrepreneur.

This is an initiative by which banks will provide loans without any third parties security. This mainly focuses on the small businessman who strives to achieve their goals but doesn’t have financial support in the economy small and medium scale industry plays a major role in millions of jobs to the unemployed. This is organized by the ministry of employees.

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This scheme is entirely based on aadhar verification without human interaction. There are about 1.24 beneficiaries for this scheme. As we know that the micro and the macro industry plays a vital role in the econom6y which provides numerous jobs so the CGTMSE which fills the gap between the dreams and execution by providing the financial support without third party interference. 

        There are two benefits with this CGTMSE Scheme as

  1. These workers have direct benefits of insurance, provident fund, pension, death related insurance
  2. The employee base increases by paying EPF as 12% of the wages

ELIGIBILITY Of CGTMSE Scheme

The eligibility criteria to get a loan are the following rules that should be met with the individual. The criteria are as given below

  1. Lending the institutions: all the ensured banks are considered as the lending banks or lending institutions.
  2. Eligible browsers: all the new and the existing browsers are eligible for the lending purpose under the following conditions
  3. Provides an amount of 65 lakhs
  4. The credit term is quarter as on the date of opening of the account
  5. The credit facility for the micro-entrepreneur is 50 lakhs with a guarantee cover of 1 crore
  6. If small and micro enterprises are owned by the woman are eligible for the guarantee cover of 80%

          Availing a loan under the CGTMSE is not that much hard the following should be the eligibility criteria as described below

  1. Browser status: loans under this scheme are eligible for both t5hye new and the existing browsers
  2. Business plan: a feasible business plan should be shown for the availability of the loan
  3. Registration: the registrtaton should be done according to the business rules

WHO ARE ELIGIBLE FOR THIS CGTMSE SCHEME:

  1. New and existing micro and macro entrepreneur
  2. The people who are engaged with the process of
  3. Manufacturing activity
  4. Service activity: the service activity doesn’t include the following as
  5. Retail trade: for the products from one place to  other
  6. Educational institutes: for the construction of the schools, colleges
  7. Training institutes: the institutes for the training purpose as languages and so on

HOW TO OPT THIS SCHEME:

Step1: First prepare the business plan with all the financial details

Step 2: After that a decision about which bank to be lent is decided then the applicant need to provide the business plan to the bank

Step 3:  the banks will check the details about the project and verify them

Step 4: the application is sent to CGTMSE where the applicant will be verified further, if they accept the application then the loan will be sanctioned.

BENEFITS Of CGTMSE Scheme:

  1. You can acquire cover facility even you are new in setting up a business
  2. MSME ministers regularly check the status of the scheme by a regular basis
  3. It plays a vital role in bringing relief to both the lenders and the borrowers by sharing the risk factor
  4.  In recent years many of the lending sectors had sanctioned loans and they received the repayment of the loan within time.
  5. The CGTMSE is spreading awareness among the MSE and the lending institutions to help them and make an advantage out of it

LIST OF BANKS PROVIDING LOANS

  1. Allahabad Bank
  2. Allahabad UP Gramin Bank
  3. Andhra Bank
  4. Andhra Pradesh Grameena Vikas Bank
  5. Andhra Pradesh State Financial Corporation
  6. Andhra Pragathi Grameena Bank
  7. Aryavart Gramin Bank
  8. Assam Gramin Vikash Bank
  9. Axis Bank Limited
  10. Baitarani Gramya Bank
  11. Ballia Etawah Gramin Bank
  12. Bangiya Gramin Vikash Bank
  13. Bank of Bahrain and Kuwait
  14. Bank of Baroda
  15. Bank of India
  16. Bank of Maharashtra
  17. Barclays Bank Plc
  18. Baroda Gujarat Gramin Bank
  19. Baroda Rajasthan Gramin Bank
  20. Baroda Uttar Pradesh Gramin Bank
  21. Bharatiya Mahila Bank
  22. Bihar Kshetriya Gramin Bank
  23. Canara Bank
  24. Catholic Syrian Bank
  25. Cauvery Kalpatharu Grameena Bank
  26. Central Bank of India
  27. Chaitanya Godavari Grameena Bank
  28. Chattisgarh Gramin Bank
  29. Chikmangalur-Kodagu Gramin Bank
  30. City Union Bank
  31. Corporation Bank
  32. Deccan Gramin Bank
  33. Delhi Financial Corporation
  34. Dena Bank
  35. Dena Gujarat Gramin Bank
  36. Deutsche Bank
  37. Development Credit Bank
  38. Durg Rajnandgaon Gramin Bank
  39. Export Import Bank of India
  40. Guargaon Gramin Bank
  41. Hadoti Kshetriya Gramin Bank
  42. Haryana Gramin Bank
  43. HDFC Bank Limited
  44. Himachal Gramin Bank
  45. ICICI Bank Limited
  46. IDBI Bank Limited
  47. Indian Bank
  48. Indian Overseas Bank
  49. IndusInd Bank
  50. ING Vysya Bank
  51. Jaipur Thar Gramin Bank
  52. Jammu & Kashmir Development Finance Corporation
  53. Jammu & Kashmir Gramin Bank
  54. Jharkhand Gramin Bank
  55. Karnataka Bank
  56. Karnataka Vikas Grameena Bank
  57. Kashi Gomti Samyut Gramin Bank
  58. Kerala Financial Corporation
  59. Krishna Grameena Bank
  60. Lakshmi Vilas Bank
  61. Langpi Dehangi Rural Bank
  62. Madhya Bharat Gramin Bank
  63. Madhya Bihar Gramin Bank
  64. Maharashtra Gramin Bank
  65. Malwa Gramin Bank
  66. Meghalaya Rural Bank
  67. MGB Gramin Bank
  68. Mizoram Rural Bank
  69. Nainital-Almora Kshetriya Gramin Bank
  70. Narmada Malwa Gramin Bank
  71. National Small Industries Corporation Limited
  72. Neelachal Gramya Bank
  73. North Eastern Development Finance Corporation Limited
  74. North Malabar Gramin Bank
  75. Oriental Bank of Commerce
  76. Pallavan Gramin Bank
  77. Pandyan Grama Bank
  78. Parvatiya Gramin Bank
  79. Pragathi Gramin Bank
  80. Prathama Bank
  81. Puduvai Bharathiar Grama Bank
  82. Punjab & Sind Bank
  83. Punjab Gramin Bank
  84. Punjab National Bank
  85. Purvanchal Gramin Bank
  86. Rajasthan Gramin Bank
  87. Rewa Siddhi Gramin Bank
  88. Rushikulya Gramya Bank
  89. Samastipur Kshetriya Gramin Bank
  90. Saptagiri Grameena Bank
  91. Sarva UP Gramin Bank
  92. Satpura Narmada Kshetriya Gramin Bank
  93. Saurashtra Gramin Bank
  94. Sharda Gramin Bank
  95. Shreyas Gramin Bank
  96. Small Industries Development Bank of India [SIDBI]
  97. South Malabar Gramin Bank
  98. Standard Chartered Bank
  99. State Bank of Bikaner & Jaipur
  100. State Bank of Hyderabad
  101. State Bank of India
  102. State Bank of Mysore
  103. State Bank of Patiala
  104. State Bank of Travancore
  105. Surguja Kshetriya Gramin Bank
  106. Sutlej Gramin Bank
  107. Syndicate Bank
  108. Tamilnadu Mercantile Bank
  109. The Dhanalakshmi Bank
  110. The Federal Bank
  111. The Jammu & Kashmir Bank
  112. The Karur Vysya Bank
  113. The Nainital Bank
  114. The Ratnakar Bank
  115. The South Indian Bank
  116. The Tamil Nadu Industrial Investment Corporation [TIIC]
  117. Tripura Gramin Bank
  118. Triveni Kshetriya Gramin Bank
  119. UCO Bank
  120. Union Bank of India
  121. United Bank of India
  122. Uttar Bihar Gramin Bank
  123. Uttaranchal Gramin Bank
  124. Uttarbanga Kshetriya Gramin Bank
  125. Vananchal Gramin Bank
  126. Vidharbha Kshetriya Gramin Bank
  127. Vidisha Bhopal Kshetriya Gramin Bank
  128. Vijaya Bank
  129. Visveshvaraya Grameena Bank
  130. Wainganga Krishna Gramin Bank
  131. Yes Bank

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