Finance Ministry Declares Joint Liability Group Micro Enterprises as Eligible Borrowers under Credit Guarantee Fund Scheme [Read Notification]

The amendment redefines "Eligible Borrower" of CGFMU to encompass both new and existing micro units, including enterprises set up under the Joint Liability Group (JLG) framework
Finance Minister - Joint Liability Group - Taxscan

The Finance Ministry has announced amendments to the Credit Guarantee Fund Scheme for Micro Units ( CGFMU ) through a partial modification of previous notifications, bringing updates to support microfinance and entrepreneurial growth under the Pradhan Mantri MUDRA Yojana (PMMY). The revised scheme, effective from October 24, 2024, aims to expand access to collateral-free loans…

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