Surat: The Southern Gujarat Chamber of Commerce and Industry (SGCCI), in association with National Credit Guarantee Trustee Company Limited (NCGTC) and Bank of Baroda, organized a special program on ‘Credit Guarantee Schemes’. The main objective of this program was to increase access to finance by informing MSME units, exporters and start-ups about the credit guarantee framework run by the government.
Durgesh Pandey, CEO and Whole-time Director of National Credit Guarantee Trustee Company Limited (NCGTC), Mumbai, was present as the chief guest on this occasion. Giving detailed information about various government credit guarantee schemes, he said that due to lack of proper information, many small entrepreneurs remain deprived of credit, who can easily get loans through these schemes.
Pandey said that at present there are about 15 credit guarantee schemes. Out of these, 3 schemes are particularly important for the industrialists of Surat. The first is the scheme for exporters: This scheme was brought due to the US tariff. In this, the government provides 100% credit guarantee. The government is to provide support of up to Rs 20,000 crore. The second is the Mutual Guarantee Scheme for MSMEs: This is a hybrid model. The repayment period is flexible and there is a moratorium period of 2 years. The third is the Start-up Scheme. Many start-ups do not have physical assets. Along with banks, AIF (Alternative Investment Fund) can also provide loans in this. He explained these three schemes in simple terms and advised banks not to put too much emphasis on collateral.
Rajkumar Goyal, Head of Government Products MSME, Corporate Office, Bank of Baroda, said that various schemes of the government are being taken forward by public sector banks. MSMEs are the backbone of the Indian economy. He provided guidance on the incentives and facilities
provided to MSMEs by the banking sector and the role of Bank of Baroda in the digital journey. He also called upon indirect exporters to come forward to take advantage of this scheme.
An ‘Open House’ was held during the session, in which expert speakers answered various questions from exporters and entrepreneurs for 20 minutes, after which the program concluded.
