New Delhi, Nov. 13 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the introduction of the Credit Guarantee Scheme for Exporters (CGSE) to provide enhanced credit access to exporters, including Micro, Small and Medium Enterprises (MSMEs).

Under the scheme, the National Credit Guarantee Trustee Company Limited (NCGTC) will extend 100 per cent credit guarantee coverage to Member Lending Institutions (MLIs) for additional credit facilities of up to Rs 20,000 crore to eligible exporters.

The initiative will be implemented by the Department of Financial Services (DFS) through the NCGTC. A management committee, chaired by the Secretary, DFS, M. Nagaraju, will monitor the scheme's progress and implementation.

Accor...