Ministry of Micro, Small and Medium Enterprises (MSMEs) launches another funding scheme to help the distressed MSME sector
Minister of MSME, Shri Nitin Gadkari today launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”.
As per the Scheme, the guarantee cover worth Rs. 20,000 crores will be provided to the promoters who can take debt from the banks to further invest in their stressed MSMEs as equity.
It was being felt that the biggest challenge for stressed MSMEs was in getting capital either in the form of debt or equity. Therefore, as part of Atmanirbhar Bharat package, on 13th May, 2020, Finance Minister had announced this scheme of sub-ordinate Debt to the promoters of operational but stressed MSMEs. After completion of necessary formalities including approval of CCEA and consultation with Finance Ministry, SIDBI and RBI among others, the scheme was formally launched today by Shri Gadakari from Nagpur.
The highlights of the scheme are:
This Scheme seeks to extend support to the promoter(s) of the operational MSMEs which are stressed and have become NPA as on 30th April, 2020;
Promoter(s) of the MSMEs will be given credit equal to 15% of their stake (equity plus debt) or Rs. 75 lakh whichever is lower;
Promoter(s) in turn will infuse this amount in the MSME unit as equity and thereby enhance the liquidity and maintain debt-equity ratio;
90% guarantee coverage for this sub-debt will be given under the Scheme and 10% would come from the concerned promoters;
There will be a moratorium of 7 years on payment of principal whereas maximum tenor for repayment will be 10 years.
It is expected that this scheme would provide much required support to around 2 lakh MSMEs and will help in reviving the economic activity in and through this sector. It will also help in protecting the livelihoods and jobs of millions of people who depend on them. Promoter(s) of MSMEs meeting the eligibility criteria may approach any scheduled commercial banks to avail benefit under the scheme. The scheme will be operationalised through Credit Guarantee Fund Trust for MSEs (CGTMSE). Necessary guidelines alongwith answers to possible FAQs have been issued today and made public in this regard.
On this occasion, Shri Nitin Gadkari thanked the Prime Minister and Finance Minister for this Scheme. He also thanked the officials of Department of Expenditure, Department of Financial Services and Governor of RBI for supporting this innovative Scheme of the Ministry.
I am owner of this website and bharatpages.in . I Love blogging and Enjoy to listening old song.
.... Enjoy this Author Blog/Website visit http://twitter.com/bharatpages
if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at email@example.com
1. Shri Arjun Munda to launch Two Centers of Excellence for Tribal Welfare tomorrow Union Minister of Tribal Affairs, Shri Arjun Munda will launch two Centers of Excellence for Tribal Welfare in a collaboration between Ministry of Tribal Affairs and Art of Living (AoL) through video conference here tomorrow. Gurudev Sri Sri Ravishankar, Art of Living will grace the occasion.
The first initiative ‘Strengthening PRIs’ will be launched in 5 districts covering 30 Gram Panchayts and 150 villages of Jharkhand, in creating awareness among elected representativ
2. Gadkari to lay Foundation Stones of 9 NH projects in Tripura tomorrow Union Minister for Road Transport, Highways and MSMEs Shri Nitin Gadkari will lay the foundation stones of nine National Highway projects with a total length of nearly 262 kms worth over Rs 2752 crore in Tripura tomorrow. The event will be presided-over by Chief Minister Shri Biplab Kumar Deb, in the presence of Union MoSs Dr Jitendra Singh and Gen (Retd) Dr V K Singh, Ministers from the State, Members of Parliaments, MLAs and senior officers from the Centre and the State.
The Projects, on comp
3. PM to interact with beneficiaries of PM SVANidhi Scheme from UP on 27 October Prime Minister Shri Narendra Modi will interact with the beneficiaries of PM SVANidhi Scheme from Uttar Pradesh on 27 October at 10:30 AM via video conferencing. Chief Minister of Uttar Pradesh will also be present on the occasion.
PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on 1 June, 2020 to help poor street vendors, impacted by COVID-19, resume livelihood activities. Till date, a total of more than 24 lakh applications have been received under the scheme, out
4. English rendering of PM’s address in the 17th Episode of Mann Ki Baat 2.0 on 25.10.2020 My dear countrymen, Namaskar. Today is the festival of Vijaydashami, that is Dussehra. On this auspicious occasion, heartiest greetings to all of you. The festival of Dussehra is one of the triumph of truth over untruth. But, simultaneously, it is also the festival of victory of patience over crises. Today, all of you are carrying on with immense patience, celebrating the festival with restraint….and hence, in our ongoing fight, our victory too is assured. Earlier, people used to throng Durga Pand
6. 20 Mega Food Park projects set up with the support of Central Government Kerala's first and nation's twentieth mega food park in Palakkad district of Kerala was virtually inaugurated today by the Union Minister for Food Processing Industries, Agriculture and Farmers Welfare, Rural Development and Panchayati Raj, Shri Narendra Singh Tomar and Chief Minister of Kerala, Mr. Pinarayi Vijayan. Union Minister of State for Food Processing Industries, Shri Rameshwar Teli was also present on the occasion. This project will give impetus to the development of food processing sec
7. Kisan Rail Under the Kisan Rail Project, potential circuits for movement of vegetables, fruits and other perishables are being identified in consultation with Ministry of Agriculture & Farmers Welfare and Agriculture/Animal Husbandry/Fisheries Departments of State Governments. The assessment is being done on the basis of seasonal availability of these items for both way traffic, so as to obtain efficiency and economies of scale.
Under the Kisan Rail Project, two train services viz. Devlali& Kolhap
8. Various initiatives taken by Ministry of Steel for capacity building The National Steel Policy envisages achievement of 300 MTPA crude steel capacity by 2030-31. Towards achievement of this goal Ministry of Steel has taken several initiatives namely:-
(i) Domestically Manufactured Iron & Steel Products Policy for promoting procurement of Made in India steel by Government agencies.
(ii) Steel Scrap Policy for enhancing availability of domestically generated scrap.
9. Global Competition in Steel Industry Indian steel companies including the public sector steel companies have consistently enhanced their capacities, production and sales including exports over the years. Capacity for domestic crude steel production has been expanded from 109.85 Million Tonnes Per Annum (MTPA) in 2014-15 to 142.29 MTPA in 2019-20 while crude steel production has gone up from 88.98 MTPA in 2014-15 to 109.14 MTPA in 2019-20. India was a net exporter of steel in 2019-20 and during the period of April-August, 2020, steel exports
11. Financial Assistance to Migrants Central Government was fully conscious that during the period of an inevitable lockdown, people should not be deprived of essential supplies. The situation was closely monitored 24*7 through Control Rooms at national level. With a view to provide food, health care and shelter to homeless people including migrant workers, Central Government on 28.03.2020, allowed the State Governments to use State Disaster Response Fund (SDRF) for this purpose.
Ministry of Home Affairs (MHA) also issued regular
12. PM hails passage of Labour reforms bills; says labour reforms will ensure well being of workers and boost economy The Prime Minister, Shri Narendra Modi has hailed the passage of Labour reforms bills by Parliament today.
In a series of tweets, the Prime Minister said, “Long due and much awaited Labour reforms have been passed by Parliament. The reforms will ensure well-being of our industrious workers and give a boost to economic growth. They are also shining examples of ‘Minimum Government, Maximum Governance.'
The new Labour code universalises minimum wages &
13. Induction Ceremony of Rafale Aircraft into Indian Air Force The Indian Air Force will formally induct the Rafale aircraft on 10th September 2020 at Air Force Station, Ambala. The aircraft will be part of 17 Squadron, the “Golden Arrows”. The first five Indian Air Force Rafale aircraft arrived at Air Force Station, Ambala from France on 27th July 2020.
Hon’ble Raksha Mantri Shri Rajnath Singh and Mrs Florence Parly Minister of the Armed Forces of France will be the Chief Guest for the event. Chief of Defence Staff General Bipin Rawat, C
14. How to Update Garmin GPS? Toll Free No : +1 844-687-1001 Garmin GPS is the device in which you have to connect with your car for traveling from one place to another place. Before the GPS device every person using their smartphones to go to the destination place. But after get the knowledge about the importance of GPS. And then we get the Garmin GPS, you have to just connect with your car. But if the GPS device needs to update it, then you have to follow these steps.
Step1: Whenever you get that you need to upgrade the GPS device. You
15. Steps to Revive Aviation Industry amid Covid-19 Pandemic All efforts have been made to reduce the impact of the pandemic on the aviation sector. Some of the measures taken to support the aviation sector include inter-alia:
1. Due to COVID-19 pandemic, domestic air services have been restarted in a calibrated manner. Initially only one third (33%) of the summer schedule 2020 was allowed to be operated which was subsequently increased to 45% on 26 Jun 2020 and then to 60% on 02 Sep 2020.
16. Sector and Industry wise study of ground level issues for policy formulation is the need of the hour: Shri Nitin Gadkari Shri Nitin Gadkari, Union Minister for Micro, Small & Medium Enterprises and Road Transport & Highways has highlighted the need for sector wise and industry wise study of the ground level issues by Think Tanks so that new policies may be formulated taking into account their recommendations. He said this while addressing a webinar today. During his interaction with MSME member bodies and Sectoral Associations of FICCI, he said that all the sectors like plastic, garment, leather, pharma
18. Increase in Child Marriage Cases during the Lockdown As per the information received from National Crime Records Bureau (NCRB), there is no data to indicate rising number of child marriage cases during the lockdown period.
The Government has enacted the ‘Prohibition of Child Marriage Act (PCMA), 2006’. The Government also undertakes awareness drives, media campaigns and outreach programmes and issues advisories to the States/ UTs from time to time to highlight evil effects of this practice. Further, the Ministry of Women and Child Dev
19. Increase in Domestic Violence against Women From the beginning of lockdown due to Covid 19 pandemic, the National Commission for Women (NCW) launched an Ad campaign through electronic media and social media inviting women who have suffered any kind of violence to come forward and report it. Further, in addition to handling complaints received through regular modes, NCW has also launched a WhatsApp number 7217735372 on 10.04.2020 for reporting domestic violence cases. The additional modes provided by NCW facilitated reporting of cases, including fr
20. Extension of due date of furnishing of Income Tax Returns and Audit Reports In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act.
The Government issued a Notification on 24thJ
21. New Industrial Policies The Government is in the process of bringing out a strategy paper on boosting industrial growth which will be a roadmap for all businesses in the country.
Scheme for Affordable Rental Housing Complexes (ARHCs), a sub-scheme under Pradhan MantriAwasYojana – Urabn (PMAY-U), for providing accommodation at affordable rent to urban migrants / poor has been launched on 31.07.2020 after approval of the Union Cabinet. It’soperational guidelines along with implem
22. Extension of date of implementation of Toys (Quality Control) Order, 2020 The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Govt. of India today issued notification, extending the date of implementation of Toys (Quality Control) Order, 2020 as 1.1.2021 in place of 1.9.2020.
This decision allows domestic manufacturers four months of extra time to make necessary arrangements for compliance of standards in view of difficulties arising out of COVID-19 pandemic.
23. Central Team to Evaluate Losses Due to Floods The primary responsibility for disaster management rests with the State Governments. The concerned State Governments undertake assessment/ evaluation of losses and provide relief measures according to the magnitude of the ground situation, in the wake of natural calamities, including flood, from the State Disaster Response Fund (SDRF) already placed at their disposal, in accordance with Government of India approved items and norms. For calamity of a severe nature, additional finan
25. IIMC celebrates its 56th Foundation Day Indian Institute of Mass Communication (IIMC) celebrated its 56th Foundation Day today. A series of online events were organized at the regional centers across the country and also at the headquarters here in Delhi.
The Foundation Day Lecture was delivered by Shri Amit Khare, Secretary, Department of Higher Education, Ministry of Education and M/o Information & Broadcasting, Government of India and Chairman, IIMC.
Sh.Khare spoke on 'National Education Policy (NEP) - Philosophy
27 Stenographer Recruitment Exam 2020 by SSC#SSC6 Days Remaining for Apply Stenographer Grade ‘C’ and ‘D’ Examination 2020 by SSC
The Staff Selection Commission (SSC) will hold an open competitive Computer Based Examination 2020 from 29/03/2021 to 31/03/2021 for Recruitment of Government Jobs (Sarkari Naukri) Vacancy of Stenographer Grade ‘C’ (Group ‘B’, Non-Gazetted) and Stenographer Grade ‘D’ (Group ‘C’) for various Ministries/ Departments/ Organizations in the Government of India
28 UPSC Government Jobs Recruitment 12/2020 Vacancies#UPSC0 Days Remaining for Apply Union Public Service Commission (UPSC), Dholpur House, New Delhi invites Online application on prescribed recruitment form by 29/10/2020 for following Sarkari Naukri Government Jobs vacancy posts especially Specialist (Faculty - Assistant Professor), Foreman, Scientific Assistant, Engineer etc. in various Central Government Departments/Organisations in the prescribed online format (Advt. No. 12/2020).
38 Recruitment of Technical Job Vacancy in ECIL 2020#Jobs4 Days Remaining for Apply Recruitment of Technical Job Vacancy in ECIL 2020
Electronics Corporation of India Limited (ECIL) has openings for dynamic and result-oriented professionals with experience for the Recruitment of following Govt. Job Vacancy positions of Technical Officers, Scientific Assistants and Junior Artisan purely on a fixed tenure contract basis, for a period of Two Years (extendable depending on&nbs ...
39 Specialist Officer Recruitment UCO Bank 2020#Bank19 Days Remaining for Apply Specialist Officer Recruitment UCO Bank 2020
UCO Bank, a leading listed Public Sector Bank having headquartered in Kolkata invites Online applications in the prescribed format for recruitment to the various government job vacancy posts in Specialized category in JMG Scale-I and MMG Scale-II in the Specialist Officer cadre in various specialist disciplines.
Specialist Officer Recruitment in UCO Bank 2020
40 UPSC Government Jobs Vacancy Recruitment 13/2020#UPSC14 Days Remaining for Apply UPSC Government Jobs Vacancy Recruitment 13/2020
Union Public Service Commission (UPSC), Dholpur House, New Delhi invites Online application on prescribed recruitment form by 12/11/2020 for following Sarkari Naukri Government Jobs vacancy posts especially System Analyst cum Computer Programmer and Foreman etc. in various Central Government Departments/Organisations in the prescribed online format (Advt. No. 13/2020).
UPSC Government Jobs Vacancy Recruitment 13 ...