Bhubaneswar, March 17: A total of 5.02 lakh credit guarantees amounting to Rs 42,591 crore have been extended to MSEs in Odisha under Credit Guarantee Scheme for Micro and Small Enterprises since inception in 2000 till February 2026.
The Government of India (GoI) implements various credit guarantee schemes for Micro, Small and Medium Enterprises (MSMEs) across the country, including in the State.
According to officials, collateral-free credit worth Rs 27,269 crore extended to the MSMEs under the major schemes in the State during the last three financial years alone.
A total of Rs 18,838 crore has been approved for 1,84,601 units under the Credit Guarantee Scheme (CGS) for Micro and Small Enterprises (MSEs) during the years 2022-23 and 2024-25.
Ministry of MSME implements the Credit Guarantee Scheme (CGS) for MSEs through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to provide credit guarantee for loans extended to new as well as existing MSEs by Member Lending Institutions without collateral security and third-party guarantee. The ceiling for guarantee coverage is Rs 10 crore under the scheme.
Self-Reliant India (SRI) Fund has been set up to infuse Rs 50,000 crore as equity funding in MSMEs with a provision of Rs 10,000 crore from the Government of India and Rs 40,000 crore through Private Equity/Venture Capital Funds, the officials said.
Pradhan Mantri Mudra Yojana (PMMY) was launched on 08.04.2015 to extend collateral free credit up to Rs 20 lakh by Member Lending Institutions.
Any individual, who is otherwise eligible to take a loan and has a business plan for small business enterprise can avail loan under the scheme for income generating activities in the manufacturing, trading, service sectors including activities allied to agriculture.
A total of 7,17,244 loans amounting to Rs 7720 crore have been guaranteed to the SMEs in Odisha under the PMMY during the past three financial years.
Similarly, the banks have provided Rs 527 crore to 8,834 SMEs of the State under the Emergency Credit Line Guarantee Scheme (ECLGS).
The ECLGS was launched in May, 2020 as part of Aatmanirbhar Bharat Package to support eligible MSMEs and business enterprises in meeting their operational liabilities due to disruption caused by COVID-19 pandemic. The Scheme was operational till March 2023.
Further, as many 590 small and medium enterprises have received loans worth Rs 184 crore under the Credit Guarantee Scheme for Stand Up India (CGSSI) during the last three fiscals.
Apart from the above, Prime Minister’s Employment Generation Programme provides Margin Money subsidy up to 35 percent, for setting up of new micro enterprises, in the non-farm sector with project cost of Rs 50 lakh for Manufacturing and Rs 20 lakh for Services enterprises.
Another scheme named as PM Vishwakarma Scheme was launched on 17.09.2023 to provide end-to-end holistic support to artisans and craftspeople of 18 traditional trades who work with their hands and tools. The Scheme includes provision of collateral free loans up to Rs 3 lakh with interest subvention of max up to 8%.
