Union Minister Nirmala Sitharaman Launches Mutual Credit Guarantee Scheme for MSMEs in Mumbai

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MSME Credit Growth Rises, But Gaps Remain - SMEVENTURE

Micro, Small, and Medium Enterprises (MSME) are the backbone of India’s economy, contributing significantly to employment and industrial output. The government has prioritized financial inclusion for these enterprises, with schemes aimed at formalizing operations and easing access to credit. The Udyam registration initiative, for instance, has registered nearly 6 crore enterprises, a move expected to boost access to formal loans. Credit flow to …

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In February 2025, Union Minister Nirmala Sitharaman, Ministry of Finance (MoF) and Ministry of Corporate Affairs (MoCA) launched the 'Mutual Credit Guarantee Scheme for Micro, Small and Medium Enterprises (MCGS-MSME) 'in Mumbai, Maharashtra to support the MSME sector in India. It was announced in the Union Budget for the financial year 2024-25 (FY25) India [...] The post Union Minister Nirmala Sitharaman launched the Mutual Credit Guarantee Sche…