Nitin Gadkari Says 91 Lakh Guarantees Issued Till Jan. 25 Under MSME Emergency Credit Line
Nitin Gadkari at an event in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Nitin Gadkari Says 91 Lakh Guarantees Issued Till Jan. 25 Under MSME Emergency Credit Line

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The Minister of Micro, Small and Medium Enterprises Nitin Gadkari on Monday said under the Emergency Credit Line Guarantee Scheme, around 91 lakh guarantees have been issued till Jan. 25 this year.

In a written reply to the Rajya Sabha, he said during the current financial year (April-December), a total number of 31,923 units were setup under the ongoing Prime Minister Employment Generation programme and 5,21,746 guarantees were issued under another ongoing scheme - Credit Guarantee Fund Trust for Micro and Small Enterprises.

"Under Emergency Credit Line Guarantee Scheme, around 91 lakh guarantees have been issued till Jan. 25, 2021," he said.

The government has announced several measures under Aatmanirbhar Bharat package to increase availability of credit to the MSME sector which include Rs 3 lakh crore collateral free automatic loans for business, including MSMEs under ECLG scheme.

Replying to a separate question, Gadkari said that the Department for Promotion of Industry and Internal Trade, has created a Fund of Funds for Startups at Small Industries Development Bank of India with a corpus of Rs 10,000 crore.

"As on Dec. 1, 2020, investment of Rs. 4509.16 crore has been made in 384 Start-ups," he said.

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