Centre considers a revamp of stressed asset guarantee scheme for MSMEs

As of May 14, guarantees of only Rs 68.39 crore had been issued, benefiting 632 businesses, a senior government official told Business Standard

Stung by mounting criticism, the Centre is considering a revamp of the stressed asset guarantee scheme for small businesses a year after it was announced as part of the government’s Aatmanirbhar Bharat package.
 
As part of the government’s Rs 20-trillion economic stimulus package in May last year, Union Finance Minister Nirmala Sitharaman had announced the Credit Guarantee Scheme for Subordinate Debt, under which personal loans are given to promoters of stressed micro, small, and medium enterprises (MSMEs). The money is infused by the promoter as equity into the business unit.
 
Towards this the government is facilitating a provision