Govt to soon launch new credit guarantee scheme for MSME sector up to Rs 100 Cr

The Indian government has launched a new credit guarantee scheme for the MSME sector, with an allocation of Rs 100 crore. This initiative aims to provide financial support to micro, small, and medium-sized enterprises by offering guarantees for loans. The scheme is designed to improve access to credit for MSMEs, especially those struggling to secure funding from traditional financial institutions. The government hopes that this scheme will boost the growth and competitiveness of MSMEs and stimulate economic activity in the sector.