New Delhi, June 26 -- The Ministry of Micro, Small & Medium Enterprises (MoMSME) has issued guidelines on Distressed Asset Fund Subordinated Debt for Stressed MSMEs Communication.
The guidelines have been approved by the Department of Financial Services, Department of Expenditure and Reserve Bank of India.
The approved budgetary outlay for the scheme is Rs 4,000 crore.
The Scheme is named as Distressed Assets Fund -Subordinate Debt for Stressed MSMEs and the credit product for which guarantee would be provided under the Scheme shall be named as Credit Guarantee Scheme for Subordinate Debt (CGSSD).
To provide guarantee coverage for the CGSSD to provide Sub-Debt support in respect of restructuring of MSMEs. 90% guarantee coverage ...