Chennai, June 26 -- Consortium of Indian Associations (CIA), a forum of over 30 associations spread across India, covering various sectors of businesses, has come forward on a Save M-SME campaign and sought clarification fr0m the government on Distressed Assets Funds-Subordinate Debt for MSMEs.
This is the credit guarantee scheme for sub-ordinate debts, providing relief to 2 lakh MSMEs. According to the Government, this Scheme will support promoters of the operational MSMEs which are financially stressed under banking rules.
The guarantee cover worth Rs 20,000 crores will be provided to the promoters who can take debt fr0m the banks to further invest in their stressed MSMEs as equity, hence maintaining liquidity and debt-equity ratio. A...