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58% Increase in Guarantees Approved. Highest ever recorded guarantee approvals since inception.


I report, with pleasure and pride that FY 2019 has been a momentous year in the history of CGTMSE in terms of operational performance and outreach to the MSE sector. The coverage under the CGS has crossed yet another milestone in FY 2019 by approving guarantees for an aggregate loan amount of ₹30,168 crore recording a growth of 58% compared with the previous fiscal. This is the highest ever guarantee approvals recorded since inception. The number of guarantees approved during FY 2019 increased to 4.36 lakh from 2.63 lakh in FY 2018 recording an increase of 66%.
 
The Member Lending Institution base has been widened with the successful onboarding of NBFCs, thereby deepening the reach in the MSE sector. It is heartening to note that during FY 2019, NBFCs availed guarantees amounting to ₹5,964 crores. During the year, CGTMSE introduced two new products, viz. Credit Guarantee cover for loans to Retail Trade and coverage under Hybrid/Partial Security. The offtake under these products in the first year of operation has been significant with the approved guarantees standing at ₹2,931 crores.
 
The Trust had the privilege of hosting the 31st Asian Credit Supplementation Institutions Confederation (ACSIC) Conference during the year, in Udaipur, which was a congregation of over 100 delegates from 13 Credit Guarantee Organisations across 9 countries. Hosted with the intent to study and adopt best practices of Credit Guarantee Organisations across Asia, the event witnessed deliberations around the theme of ‘Credit Guarantee: A Vehicle for Inclusive Growth’. The efforts of CGTMSE at inclusive designing of the guarantee products, facilitating access to finance to MSE entrepreneurs and the socio-economic impact achieved by it during its 19-year journey, were lauded by its international peers.
 
The operational performance of CGTMSE in the recent past has been the outcome of a host of policy and product enhancements, as well as process improvements resulting out of the continuous business re-engineering efforts. It reflects the transformation of CGTMSE into an Institution which is customer-centric, constantly innovating and aligning itself to global best practices. The future strategy would continue to be guided by the aforesaid philosophy while maintaining its staunch commitment to facilitate access to credit resulting in building enterprises and itself emerging as a sustainable organization.
 
I am grateful to Ministry of MSME, Govt. of India, the Reserve Bank of India, Indian Banks’ Association and the Small Industries Development Bank of India for their valuable, timely and continuous support in the endeavor of CGTMSE for creating an enabling environment for the MSE sector. I would also like to express my appreciation for the co-operation extended by the MLIs as well as all partner institutions of CGTMSE for their dedicated efforts and support to upscale the operations of CGTMSE.
 


With regards,


Mohammad Mustafa, I.A.S.
Chairman, CGTMSE

 

 

 

 

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