New Delhi, March 19 -- The Mutual Credit Guarantee Scheme for MSMEs has been launched for providing 60 per cent guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions for credit facility up to Rs.100 crore sanctioned to eligible MSMEs for purchase of equipment and machinery, the Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha that in order to be eligible for this scheme, MSMEs should have a valid Udyam Registration Number and should not be an NPA with any lender. Besides, the minimum cost of equipment and machinery is 75 per cent of the project cost. The scheme is being implemented by National Credit Guarantee Trustee Compa...