India, Jan. 28 -- The Delhi Government on Tuesday signed an MoU with the Central Government entity, the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), to provide collateral-free loans up to Rs 10 crore to city-based entrepreneurs.

The primary objective of the scheme is to address the biggest challenge faced by small entrepreneurs' access to bank credit by enabling them to avail loans without providing any collateral or security.

Speaking at the signing of the MoU, Delhi Chief Minister Rekha Gupta termed the move as an important step towards financial empowerment to achieve the goal of a "Viksit Delhi".

She said the Delhi government has set aside a fund of Rs 50 crore to service loans worth Rs 2,500 crore without ...