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News: The Union Cabinet approved the Credit Guarantee Scheme for Exporters (CGSE) to provide 100% guarantee coverage for additional credit to eligible exporters.
About Credit Guarantee Scheme for Exporters (CGSE)
- The CGSE is designed to provide full guarantee support to Member Lending Institutions for extending additional working capital and collateral-free loans to eligible exporters
- Aim: The scheme aims to provide additional credit support for exporters so they can diversify into new markets and improve global competitiveness.
- Implemented by: The scheme will be implemented by the Department of Financial Services (DFS) through the National Credit Guarantee Trustee Company Limited (NCGTCL).
- Oversee by: A Management Committee chaired by the Secretary of the Department of Financial Services will oversee implementation and progress.
- Timeline: The scheme is currently valid until March 2026.
- Loan Details: It provides additional working capital and collateral-free term loans up to 20% of sanctioned limits.
- Beneficiaries: The scheme is expected to benefit Eligible exporters, including MSMEs and non-MSME exporters.
- Alignment with Goals: It is expected to reinforce India’s journey towards Aatmanirbhar Bharatand help achieve the target of USD 1 trillion in exports.
