Credit guarantee scheme for MSMEs extended till March 31

New Delhi: The government has extended the Credit Guarantee Scheme for Subordinate Debt (CGSSD) for stressed MSMEs till March 31, 2022.

The scheme was approved by the government on June 1, 2020. It was launched on June 24 the same year to provide credit facilities through lending institutions to the promoters of stressed MSMEs.

"On the basis of the requests received from the stakeholders of the scheme, the Government has decided to further extend it by a period of another six months beyond 30.09.2021. The scheme will now remain operational till 31.03.2022," the MSME ministry said on Monday.

In a separate statement, the ministry said Khadi product sales on Gandhi Jayanti crossed Rs 1 crore at Delhi's flagship Khadi India outlet in Connaught Place.

"On 2nd October, the overall sale of Khadi products was recorded at Rs 1.02 crore," it said.

It added that in the COVID era, there has been a manifold rise in the demand of eco-friendly and herbal products and the Khadi and Village Industries Commission (KVIC) is constantly adding new products to cater to the larger consumer base.

KVIC Chairman Vinai Kumar Saxena attributed the increase in sales to the frequent appeals by Prime Minister Narendra Modi to buy Khadi and also Khadi's ever-growing acceptance among the masses.

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