The scheme was extended to women-owned MSEs in December 2022 to provide credit guarantee of 85% for loans up to Rs 2 crores which was later increased to Rs 5 crores. In a move to support women entrepreneurship, the MSME Ministry on Tuesday said women-owned micro and small enterprises (MSEs) will get higher credit guarantee coverage under the collateral-free loan scheme CGTMSE. According to the details shared in a press conference on the 100 days’ achievements of the Ministry by MSME Minister, Jitan Ram Manjhi, today, the CGTMSE scheme will now include enhanced credit guarantees for women-owned MSMEs, with a guarantee coverage of 90%. Approved by the CGTMSE Board on September 9, 2024, the scheme also includes the provision for reducing the annual guarantee fee, making credit more accessible for women entrepreneurs, the Ministry said. “27 lakhs women-led MSMEs are expected to benefit from this initiative,” Manjhi said. The move comes in the backdrop of the Government’s aim to enable credit guarantees worth Rs 5 lakh crores to MSEs the next two years under CGTMSE. The scheme earlier this year had informed that the credit guarantee amounts approved had doubled in FY24 to Rs 2 lakh crores guarantees, the highest ever in a single FY vis-a-vis the total amount in guarantees approved was Rs 1.04 lakh crores in FY23 across 11.65 lakh guarantees and Rs 56,172 crores across 7.17 lakh guarantees in FY22. Particularly for women MSEs, the Ministry in June this year had launched its Yashasvini Campaign to conduct a series of events for raising awareness of Government schemes and promote formalization, registration, and capacity-building for women entrepreneurs. The first campaign was held in Jaipur in July recording over 4,000 Udyam and UAP registrations. The second campaign was held in Ranchi on September 11 with the participation of 200 women entrepreneurs and self-help groups, the Minister informed in the press conference. Manjhi also noted the increase in Udyam registrations of MSMEs from 1.06 crores in 2023 to 5.07 crores in 2024. “With the increase in MSME registrations, this is expected to benefit approximately 21 crores persons in terms of generation of employment opportunities,” he said. Moreover, under the Prime Minister’s Employment Generation Program (PMEGP), the Minister said 26,426 new micro enterprises have been established with loan disbursements of Rs 3,148 crores in the past 100 days. Manjhi said the initiative is expected to benefit approximately 2.11 lakhs people in terms of generation of employment opportunities.
