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Date: 31-Jan-2023 Category: Extra Ordinary State: Union Government Country: India

Amendments made to the Scheme of Credit Guarantee Fund for Micro Units.

Issued by Ministry of Finance · Department of Financial Services

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Executive Summary & Key Takeaways

What it means

  • The notification announces amendments to the Credit Guarantee Fund for Micro Units (CGFMU) scheme.
  • These amendments pertain to the guarantee fee structure and related procedures.

Key Changes

  • Guarantee fee for subsequent years (from FY 2023-24) for portfolios, including NPAs, will be charged on the outstanding amount as of April 1st of the financial year, except for working capital accounts where it will continue to be charged on the sanctioned amount.
  • Guarantee fee for NPA accounts will continue until a claim is lodged, at a rate specified by the fund based on risk-based pricing or other specified rates.
  • For subsequent years starting April 1, 2023, MLIs must furnish live portfolio data (including NPA accounts) by July 31, and annual guarantee fees must be paid by August 31 or a date determined by NCGTC.
  • The clause at sub-para (v) (d) of Notification number S.O. 1261(E) dated 16th April, 2020, has been omitted for portfolios of FY 2022-23 onwards.
  • The term 'Standard Basic Rate (SBR) of 1% of sanctioned amount' is revised to 'Standard Basic Rate (SBR) of 1% of sanctioned/outstanding amount, as the case may be' for all categories of Member Lending Institutions (MLIs).

Impact Analysis

Member Lending Institutions (MLIs)

  • Action Item: MLIs should update their internal systems and processes to reflect the changes in guarantee fee calculation and reporting requirements. They should also train their staff on the new procedures.

Credit Guarantee Fund for Micro Units (CGFMU)

  • Action Item: CGFMU should issue detailed guidelines and clarifications to MLIs regarding the implementation of these amendments. They should also develop mechanisms for monitoring and ensuring compliance.

Borrowers (Micro Units)

  • Action Item: No direct action is required from borrowers. However, they should stay informed about changes in lending policies and conditions.

Key Entities Referenced

CGFMU: Credit Guarantee Fund for Micro Units MLIs: Member Lending Institutions NCGTC: National Credit Guarantee Trustee Company Ministry of Finance (Department of Financial Services): The government ministry responsible for the CGFMU scheme. Notification S.O. 1443(E) dated 18th April, 2016: Original notification regarding the CGFMU scheme. Notification S.O. 1261(E) dated 16th April, 2020: Previous amendment to the CGFMU scheme. Notification S.O. 2668 (E) dated 01st July, 2021: Previous amendment to the CGFMU scheme.
Official Source Record View Original Source →
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रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-31012023-243306 xxxGIDHxxx CG-DL-E-31012023-243306 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 442] नई ददल्ली, मगं लिार, जनिरी 31, 2023/माघ 11, 1944 No. 442] NEW DELHI, TUESDAY, JANUARY 31, 2023/MAGHA 11, 1944 जित्त मत्रं ालय (जित्तीय सेिाएं जिभाग) अजधसचू ना नई ददल्ली, 31 जनिरी, 2023 का.आ. 457(अ).—जित्त मंत्रालय (जित्तीय सेिाएं जिभाग) की अजधसूचनाओं, 18 अप्रैल, 2016 के का.आ.1443 (अ), 16 अप्रलै , 2020 के का.आ.1261(अ) और 01 जलु ाई, 2021 के का.आ.2668(अ) म ें आंजिक संिोधन करते हुए केंद्रीय सरकार, एतद्द्वारा, सूक्ष्म इकाइयों के जलए ऋण गारंटी जनजध (सीजीएफएमयू) के नाम से जानी जाने िाली योजना (जजसे इसके पश्चात ्उक्त योजना के रूप म ें संदर्भभत दकया जाएगा) में जनम्नजलजखत संिोधन करती ह,ै अथाात:- 1. 18 अप्रलै , 2016 की अजधसूचना संख्या का.आ.1443(अ) के अध्याय III के पैरा क्रम सं. 8 (i) (ख) को जनम्नित पढा जाएगा: (ख) आगामी िर्षों के दौरान – पोटाफोजलयो के चाल ू रहन े के दौरान कृस्ट्टलीकृत पोटाफोजलयो के बकाया िेर्ष (एनपीए हो चुके खातों सजहत) के अनुरूप स्ट्िीकृत राजि पर गारंटी िल्ु क का भुगतान दकया जाएगा और गारंटी जित्तीय िर्षा के अंत तक िैध रहगे ी। “तथाजप, जित्तीय िर्षा 2023-24 से पोटाफोजलयो (एनपीए हो चुके खातों सजहत) के जलए जपछले िर्षों का गारंटी िुल्क उस जित्त िर्षा के 01 अप्रलै की जस्ट्थजत के अनुसार बकाया राजि पर लगाया जाएगा, जसफा कायािील पूंजी खातों के उन मामलों को छोड़कर जजनमें यह स्ट्िीकृत राजि पर जलया जाना जारी रहगेा, जैसादक अब तक जलया जाता रहा ह।ै” पोटाफोजलयो में एनपीए खातों के संबंध में गारंटी िुल्क का 669 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] भुगतान ऐसे खातों के जलए दािा दकये जाने तक, जनजध द्वारा राजि के जलए जनर्ददष्ट दर पर या जोजखम आधाररत मूल्य जनधाारण पर आधाररत िल्ु क/ऐसी संदभा जतजथयों के जलए ऐसी अन्य राजि या समय-समय पर जनजध द्वारा जनधााररत जिजनर्ददष्ट दर पर जारी रहगे ा (5 मॉडलों के संबंध में जोजखम आधाररत गारंटी िल्ु क संघटक संलग्नक म ें ददए गए ह)ैं । 2. 18 अप्रलै , 2016 की अजधसूचना संख्या का.आ.1443(अ) के अध्याय III के पैरा क्रम सं. 8 (ii) को जनम्नित पढा जाएगा: “आधार िर्षा के जलए” गारंटी िल्ु क का भुगतान जतमाही समाजि के बाद 16 ददनों के अंदर दकया जाएगा। (सदस्ट्य ऋणदात्री संस्ट्थाओं (एमएलआई) को जतमाही समाजि से 7 ददनों के अंदर एक प्रबंधन प्रमाणपत्र प्रस्ट्तुत करना होगा, जजसके बाद, एनसीजीटीसी द्वारा प्रबंधन प्रमाणपत्र प्राि होने के 3 ददनों के अंदर एक ऋण गारंटी मांग सूचना पत्र (सीजीडीएएन) जारी दकया जाएगा और बाद में सीजीडीएएन जारी दकए जाने से 3 ददनों के अंदर गारंटी िल्ु क देय होगा।) “बाद के िर्षों अथाात्, 01 अप्रलै , 2023 से जपछल ेिर्षों के खातों (एनपीए खातों सजहत), जजन्ह ेंजारी रखन ेके जलए जित्तीय िर्षा के दौरान गारंटी की मांग की गई है, के लाइि पोटाफोजलयो के आंकड़ े एमएलआई द्वारा 31 जुलाई या उससे पहले प्रस्ट्तुत दकए जाएगंे और िार्भर्षक गारंटी िल्ुक का भुगतान 31 अगस्ट्त या उससे पूिा या ऐसी दकसी जतजथ पर दकया जाएगा, जजसे जित्तीय िर्षा के जलए गारंटी किर को जारी रखन ेके जलए एनसीजीटीसी द्वारा जनधारारत दकया जाए।” 3. 16 अप्रैल, 2020 की अजधसूचना संख्या का.आ.1261(अ) के उप-पैरा (V) (घ) के खडं को जित्तीय िर्षा 2022-23 से पोटाफोजलयो के जलए हटा ददया गया ह।ै 4. क्रम संख्या 1 स े 5 के सामन े अथाात ् सदस्ट्य ऋणदात्री संस्ट्थाओं (एमएलआई) की सभी श्रेजणयों के जलए जोजखम आधाररत गारंटी िल्ु क संघटकों को पररभाजर्षत करन े िाली उक्त योजना के संबंध म ें 18 अप्रलै , 2016 की अजधसूचना संख्या का.आ. 1443(अ) म ें आए िब्दों “स्ट्िीकृत राजि के 1% की मानक आधारभूत दर (एसबीआर)” को ‘स्ट्िीकृत/बकाया राजि के 1% की मानक आधारभूत दर, जैसा भी मामला हो’ पढा जाएगा। 5. अजधसूचना(ओं) की अन्य जिर्षय-िस्ट्तु अपररिर्भतत रहगें ी। [फा. स.ं 16/01/2021-पीएमएमिाई] मुकेि कुमार बंसल, संयक्ु त सजचि MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 31st January, 2023 S.O. 457(E).—In partial modification of MINISTRY OF FINANCE (Department of Financial Services), NOTIFICATIONS New Delhi number S.O. 1443(E) dated the 18th April, 2016, number S.O. 1261(E) dated the 16th April, 2020 and number S.O. 2668 (E) dated the 01st July, 2021, the Central Government hereby makes the following amendments to the Scheme known as the Credit Guarantee Fund for Micro Units (CGFMU) (hereinafter referred to as the said Scheme), namely:- 1. Paragraph at Serial No. 8 (i) (b) of Chapter III of Notification number S.O. 1443(E) dated the 18th April, 2016, shall be read as: (b) During subsequent years - The guarantee fee will be paid on the sanctioned amount corresponding to the outstanding balance (including on accounts which have turned NPA) of the crystalized portfolio during the currency of the portfolio and Guarantee will be valid upto the end of that financial year. “However, from FY 2023-24, guarantee fee on portfolios (including on accounts turned NPA) of past years shall be charged on the outstanding amount as on April 01 of the Financial Year except in case of working capital accounts where it shall continue to be charged on sanctioned amount, as hitherto.” Guarantee fee with respect to NPA[भाग II—खण् ड 3(ii)] भारत का राजपत्र : असाधारण 3 accounts in the portfolio would continue to be paid till lodgement of claim for such accounts, at a rate specified by the Fund on the amount or fee based on risk based pricing/such other amount on such reference dates or specified rate set by the Fund from time to time (risk based guarantee fee components given at Attachments in respect of 5 Models). 2. Paragraph at Serial No. 8 (ii) of Chapter III of Notification number S.O. 1443(E) dated the 18th April, 2016, shall be read as: “For the Base year,” guarantee fee shall be paid within 16 days from the end of the quarter. (The MLI would need to furnish a Management Certificate within 7 days from the end of the quarter, after which, a Credit Guarantee Demand Advice Note [CGDAN] would be issued by NCGTC within 3 day of receipt of Management Certificate and subsequently, the guarantee fee shall be payable within 3 days from the issue of CGDAN). “For subsequent years w.e.f. April 01, 2023, data of live portfolio of accounts (including NPA accounts) of previous years for which guarantee is sought to be continued during the Financial Year will be furnished by the MLI on or before July 31 and Annual Guarantee fee shall be paid on or before August 31 or such other date as may be decided by NCGTC to enable guarantee cover for the Financial Year.” 3. The clause at sub-para (v) (d) of Notification number S.O. 1261(E) dated 16th April, 2020, has been omitted for portfolios of FY 2022-23 onwards. 4. The words “Standard Basic Rate (SBR) of 1% of sanctioned amount” appearing in the Attachment of Notification number S.O. 1443(E) dated the 18th April, 2016 to the said Scheme defining risk based guarantee fee components will be read as „Standard Basic Rate (SBR) of 1% of sanctioned/outstanding amount, as the case may be’ against serial numbers 1 to 5, i.e. for all categories of Member Lending Institutions (MLIs). 5. Other contents of the Notification(s) shall remain unchanged. [F. No. 16/01/2021-PMMY] MUKESH KUMAR BANSAL, Jt. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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