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Date: 24-Oct-2024 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

  • This gazette notification from the Ministry of Finance (Department of Financial Services), India, dated October 24, 2024, announces amendments to the Scheme of Credit Guarantee Fund for Micro Units (CGFMU). These amendments modify the definition of "Micro Loan", "Eligible Borrower", and clarify the guarantee coverage process.
  • The amendments aim to expand the scope of the CGFMU scheme by including overdraft facilities under the Pradhan Mantri Jan Dhan Yojana (PMJDY) and clarifying eligibility criteria for various loan categories under the Pradhan Mantri MUDRA Yojana (PMMY).

Key Changes

  • Amendment to the definition of "Micro Loan": The definition now explicitly includes overdraft facilities up to Rs. 10,000 sanctioned under PMJDY accounts within the overall Rs. 20 lakh limit.
  • Amendment to the definition of "Eligible Borrower": The definition is broadened to include Self Help Groups (SHGs) with loan amounts between Rs. 10 lakh and Rs. 20 lakh, in addition to existing categories under PMMY and MSMED Act, 2006.
  • Clarification on Guarantee Coverage: The notification clarifies the process for lending institutions to apply for guarantee cover and reserves the right for the Fund to create lists of approved and disapproved lending institutions and/or schemes.
  • Loan Categories under PMMY are further defined: Shishu (up to Rs. 50,000), Kishor (Rs. 50,000 to Rs. 5 lakh), Tarun (Rs. 5 lakh to Rs. 10 lakh), and Tarun Plus (Rs. 10 lakh to Rs. 20 lakh for those who have successfully repaid Tarun loans).
  • Effective Date: The amendments are effective from October 24, 2024.

Impact Analysis

Impact on Micro Units/Entrepreneurs

  • Growth and Development: Facilitates growth and development of micro-enterprises by providing easier access to funds for various stages of business development (Shishu, Kishor, Tarun, Tarun Plus).

Impact on Lending Institutions

  • Potential for New Client Base: Expansion of eligible borrowers opens up opportunities to serve a wider client base.

Impact on Government

  • Monitoring and Oversight: The government needs to monitor the implementation of the scheme and ensure its effectiveness.

Suggested Action Items

  • Regularly review and update the scheme based on its performance and feedback from stakeholders.

Key Entities Referenced

Ministry of Finance (Department of Financial Services): The issuing authority of the gazette notification. Responsible for overseeing the implementation of the CGFMU scheme. Scheme of Credit Guarantee Fund for Micro Units (CGFMU): The government scheme that provides credit guarantees to micro-units. Pradhan Mantri MUDRA Yojana (PMMY): A government scheme providing funding for micro-units, referenced for loan categorization in the amendment. Pradhan Mantri Jan Dhan Yojana (PMJDY): A government scheme providing bank accounts, whose overdraft facility is now included under CGFMU. MSMED Act, 2006: The Micro, Small and Medium Enterprises Development Act, 2006, used as a reference for eligible borrowers. MUDRA Ltd.: The institution responsible for implementing the PMMY scheme. Self Help Groups (SHGs): Now explicitly included as eligible borrowers under certain conditions.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-24102024-258223 CG-DxLx-xEG-I2D4H1x0x2x0 24-258223 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.ं 4282] नई दिल्ली, बृहस्ट्प जतिार, अक्त बू र 24, 2024/कार्श्तकच 2, 1946 No. 4282] NEW DELHI, THURSDAY, OCTOBER 24, 2024/KARTIKA 2, 1946 जित्त मत्रं ालय (जित्तीय सिे ाएं जिभाग) अजधसचू ना नई दिल् ली, 24 अक् तूबर, 2024 का.आ. 4658(अ).—जित्त मंत्रालय (जित्तीय सेिाएं जिभाग), नई दिल्ली की अजधसूचनाओं, 18 अप्रलै , 2016 के का.आ.1443(अ), 16 अप्रलै , 2020 के का.आ.1261(अ), 1 िुलाई, 2021 के का.आ.2668(अ), 31 िनिरी, 2023 के का.आ.457(अ) और 21 माचच, 2023 के का.आ.1361(अ) म ें आंजिक संिोधन करते हुए केंद्रीय सरकार, एतद्द्वारा, सूक्ष्म इकाइयों के जलए ऋण गारंटी जनजध (सीिीएफएमयू) नामक योिना, जिसे इसके पश्चात् उक्त योिना कहा िाएगा, म ें जनम्नजलजखत संिोधन करती ह,ै अर्ाचत:- 1. 18 अप्रलै , 2016 की अजधसूचना संख्या का.आ.1443(अ) के अध्याय I के पैरा क्रम सं. 2 (xi) म ेंसंिोधन दकया गया ह ैजिसे जनम्नानुसार पढा िाएगा: “सूक्ष्म ऋण” से अजभप्रेत ह ै ऋण-प्रिाता संस्ट्र्ा द्वारा पात्र उधारकताच को संपार्श्वचक मुक्त/ततृ ीय पक्ष गारंटी मुक्त ऋण/सीमा के रूप में िी गई जित्तीय सहायता (ितचमान में 20 लाख रुपए) िो जनजध द्वारा जिजनर्िचष्ट दििाजनिेिों के अनरूु प हो। प्रधानमंत्री मुद्रा योिना के तत्िािधान में, पहले ही सूक्ष्म ऋणों के जिकास तर्ा जित्तपोषण म ें सहायता हते ु मुद्रा जल. का सृिन दकया गया ह।ै मुद्रा जल. के इन योिना रूपी मध्यक्षपे ों को जििु, दकिोर, तरुण 6939 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] तर्ा तरुण प्लस नाम दिया गया ह ै जिनसे लाभग्राही सूक्ष्म इकाई/उद्यमी की संिृजि/जिकास तर्ा जनजधक आिश्यकताओं और उनके अगल े चरण के उन्नयन/संिृजि के संिभच जबन्ि ु का द्योतन होता ह।ै इन्ह ें जनम्नानुसार पररभाजषत दकया गया ह:ै- o जििु: 50,000 तक के ऋणों को किर दकया िाता ह।ै o दकिोर: 50,000 स ेउपर और 5 लाख तक के ऋणों को किर दकया िाता ह।ै o तरुण: 5 लाख से उपर और 10 लाख तक के ऋणों को किर दकया िाता ह।ै o तरुण प्लस: इसम ें उन उद्यजमयों के जलए 10 लाख स े उपर तर्ा 20 लाख तक के ऋणों को किर दकया िाता ह ैजिन्होंन ेतरुण श्रणे ी के अतं गतच ऋण जलया हो तर्ा उसका सफलतापिू कच पनु भगुच तान दकया हो। इसके अजतररक्त, पीएमिेडीिाई खातों के अंतगतच स्ट्िीकृत 10,000 रुपए की ओिरड्राफ्ट सुजिधा भी क्रेजडट गारंटी जनजध के अतं गतच किर दकए िाने हते ु पात्र होगी। 2. 18 अप्रैल, 2016 की अजधसूचना का.आ.1443(अ) के अध्याय I के परै ा क्रम सं. 2 (xii) में संिोधन दकया गया ह ै जिस े जनम्नानुसार पढा िाएगा: “पात्र उधारकता”च स े अजभप्रेत ह ैपीएमएमिाई के तहत आन े िाला कोई क्षेत्र या एमएसएमईडी अजधजनयम, 2006 (समय-समय पर यर्ा संिोजधत) म ें यर्ा पररभाजषत नई अर्िा मौिूिा सूक्ष्म इकाई/उद्यम जिनम ें संयुक्त िेयता समूह (िेएलिी) संरचना के अतं गचत व्यजक्तगत रूप से या संयुक्त रूप स े (िेएलिी के अंतगचत गारंटी की उपलब्धता को ध्यान में रख े जबना) स्ट्र्ाजपत सूक्ष्म इकाई/उद्यम िाजमल ह,ै िो जनजध द्वारा जनधाचररत पात्रता मानिंडों को परू ा करता ह ैऔर जिसकी ऋण आिश्यकता पीएमएमिाई के अंतगचत जिजनर्िचष्ट सीमा से अजधक न हो, के अंतगचत आता ह।ै ऋण की जिजनर्िचष्ट सीमा 20 लाख रुपए अर्िा कोई अन्य ऐसी राजि होगी िो जनजध द्वारा समय-समय पर जनधाचररत की िाएगी। इसके अजतररक्त, पीएमिेडीिाई खातों के तहत स्ट्िीकृत 10,000 रुपए की ओिरड्राफ्ट ऋण राजि भी क्रेजडट गारंटी जनजध के अंतगचत किर दकए िाने हते ु पात्र होगी। पात्र उधारकताचओं से िैसे स्ट्ियं सहायता समूह भी अजभप्रते होंग े िो जनजध द्वारा जनधाचररत पात्रता मानिडं ों को पूरा करत े हों तर्ा जिनकी ऋण राजि 10 लाख रुपए स ेउपर तर्ा 20 लाख रुपए तक हो। 3. 18 अप्रलै , 2016 की अजधसचू ना संख्या का.आ.1443(अ) के अध्याय II के परै ा क्रम सं. 4 को जनम्नानुसार पढा िाएगा: जनजध सिस्ट्य ऋणिात्री संस्ट्र्ा(ओं) द्वारा पात्र उधारकता च को प्रिान की गई जिजनर्िचष्ट सीमा (ितमच ान म ें 20 लाख रुपए) के सूक्ष्म ऋणों को किर करेगी, बिते ऋणिात्री संस्ट्र्ा ऐसे मंिूर दकए गए ऋणों के सबं ंध म ेंगारंटी किर को उस समयािजध में और प्रदक्रयानुसार आिेिन करे िो इस उद्देश्य के जलए जनजध द्वारा जिजनर्िचष्ट हो। इसके अजतररक्त, प्रधानमंत्री िन-धन योिना के अंतगचत स्ट्िीकृत 10,000 रुपए की ओिरड्राफ्ट ऋण राजि भी ऋण गारंटी जनजध के अतं गतच किर दकए िाने हते ु पात्र होगी। यह नोट दकया िा सकता ह ै दक पीएमएमिाई के अंतगचत सूक्ष्म ऋण जिसमें पीएमिेडीिाई के अंतगचत ओिरड्राफ्ट िाजमल ह ैजिसे 8 अप्रैल, 2015 से स्ट्िीकृत दकया गया ह,ै योिना के अंतगतच गारंटी किर के जलए पात्र होगा। जनजध अपने जििेकानुसार उन सिस्ट्य ऋणिात्री संस्ट्र्ाओं और/अर्िा योिनाओं की एक सूची अनुमोदित/तैयार करेगी जिनके जलए गारंटी किर उपलब्ध होगा अर्िा ऐसी नकारात्मक सूची भी अनुमोदित/तैयार करेगी जिनके जलए गारंटी किर उपलब्ध नहीं होगा। 4. योिना के संबंध म ेंपूिचिती अजधसूचनाओं की सभी जनबंधन और ित ें अपररिर्श्तचत रहगें ी। 5. यह अजधसूचना 24.10.2024 से प्रभािी होगी। [फा. स.ं 6/12/2024- जमिन ऑदफस, डीएफएस] प्रिांत कुमार गोयल, संयुक्त सजचि[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 24th October, 2024 S.O. 4658(E).—In partial modification of MINISTRY OF FINANCE (Department of Financial Services), New Delhi NOTIFICATIONS S.O. 1443(E) dated 18th April, 2016, S.O. 1261(E) dated 16th April, 2020, S.O. 2668(E) dated 01st July, 2021, S.O. 457(E) dated 31st January, 2023 and S.O. 1361(E) dated 21st March, 2023 appearing in the Gazette of India: EXTRAORDINARY PART II – Section 3 – Sub-section (ii) publishing the Scheme of Credit Guarantee Fund for Micro Units (CGFMU) (hereinafter referred to as the said Scheme), the Central Government hereby makes the following amendments to the Scheme, namely :- 1. Paragraph 2 (xi) of Chapter I of Notification number S.O. 1443(E) dated 18th April, 2016 has been modified and shall read as: "Micro Loan" means any financial assistance by way of collateral free/third party guarantee free loan/limit (currently Rs.20 lakh), extended by the lending institution to the eligible borrower, as per the guidelines prescribed by the Fund. Under the aegis of Pradhan Mantri MUDRA Yojana, MUDRA Ltd. has already been created to support development and financing of micro loans. The schematic interventions of MUDRA Ltd. have been named 'Shishu', 'Kishor' 'Tarun' and ‘Tarun Plus’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth. They are presently defined as under: • Shishu: covering loans upto 50,000/- • Kishor: covering loans above 50,000/- and upto 5 lakh • Tarun: covering loans above 5 lakh and upto 10 lakh • Tarun Plus: covering loans above 10 lakh and upto 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category. Further, Overdraft facility of Rs.10,000/- sanctioned under PMJDY accounts shall also be eligible to be covered under Credit guarantee Fund. 2. Paragraph 2 (xii) of Chapter I Notification S.O. 1443(E) dated on 18th April, 2016 has been modified and shall read as: "Eligible borrower" means new or existing micro unit / enterprise, including micro unit/enterprise set up under Joint Liability Group (JLG) framework, individually or jointly (irrespective of the availability of guarantee under JLG), falling under any sector covered under PMMY or as defined in the MSMED Act, 2006 (as amended from time to time), who meets eligibility criteria prescribed by the Fund and whose credit requirement does not exceed the specified limit under PMMY. Specified limit of the loan shall be Rs.20 lakh as defined above or such other amount as may be decided by the Fund from time to time. Further, Overdraft loan amount of Rs.10,000/- sanctioned under PMJDY accounts shall also be eligible to be covered under Credit guarantee Fund. Eligible borrower would also mean Self Help Groups who meet eligibility criteria prescribed by the Fund and whose loan amount is above Rs.10 lakh and upto Rs.20 lakh. 3. Paragraph 4 of Chapter II of Notification number S.O. 1443(E) dated the 18th April, 2016, shall be read as: The Fund shall cover micro loans upto the specified limit (currently Rs.20 lakh) extended by Member Lending Institution(s) to an eligible borrower, provided that the lending institution applies for guarantee cover in respect of such loans so sanctioned within such time period and as per procedures prescribed by the Fund for the purpose. Further, Overdraft loan amount of Rs.10,000/- sanctioned under PMJDY accounts shall also be eligible to be covered under Credit guarantee Fund. It may be noted that micro loans under PMMY inclusive of overdraft under PMJDY, sanctioned since 8th April 2015 would qualify for guarantee cover under the scheme. The Fund may, at its discretion, approve/frame a list of Member Lending Institutions and /or their schemes, for which the guarantee cover will be available, or a negative list for which the guarantee cover shall not be available. 4. All other terms and conditions of the earlier Notifications on the Scheme shall remain unchanged. 5. The Notification shall come into effect from 24.10.2024 [F. No. 6/12/2024 – Mission Office, DFS] PARSHANT KUMAR GOYAL, 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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