Govt okays 'Mutual Credit Guarantee Scheme' to strengthen the MSME manufacturing sector

To enhance manufacturing, the government introduces a Mutual Credit Guarantee Scheme for MSMEs, providing 60% guarantee coverage by NCGTC for credit facilities up to Rs 100 crore. The scheme offers collateral-free loans for the purchase of plant and machinery, with specific borrowing and repayment conditions, including a moratorium period and annual guarantee fees.