India, March 18 -- The Government of India issued the following news release:
The Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) has been launched for providing 60% guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for credit facility up to Rs.100 crore sanctioned to eligible MSMEs under MCGS-MSME for purchase of equipment/ machinery.
The eligibility criteria for borrowers under Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) is as below:
* It should be an MSME with valid Udyam Registration Number;
* It should not be an NPA with any lender;
* Minimum cost of equipment /machinery is 75% of project cost;
The Scheme is being implemented by National Credit Gua...