Manipur Launches Credit Guarantee Scheme to Boost MSME Sector
Northeast Desk, 12th October: Manipur Chief Minister N. Biren Singh introduced the Manipur State Credit Guarantee Scheme (MCGS) on October 12, in collaboration with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The launch took place at Hotel Imphal.
Chief Minister Biren Singh highlighted the significance of this scheme in bolstering Manipur’s Micro, Small, and Medium Enterprises (MSME) sector. The MCGS aims to motivate banks to offer collateral-free loans to startups, entrepreneurs, and borrowers, thereby strengthening the credit delivery system. This, in turn, is expected to create a conducive environment for individuals to venture into self-employment and diverse successful businesses.
Prior to this, on September 30, the Chief Minister distributed ‘One-Time Financial Assistance’ for the education of children from labor card holders in relief camps at his Secretariat. It’s worth noting that this assistance is extended to all people in the relief camps, irrespective of their communities, emphasizing the government’s commitment to providing relief and support to those affected by ongoing violence in the region.