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The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi today approved introduction of Credit Guarantee Scheme for Exporters (CGSE) for providing 100% credit guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for extending additional credit facilities upto Rs.20,000 crore to eligible exporters, including MSMEs. The scheme shall be implemented by Department of Financial Services (DFS) through National Credit Guarantee Trustee Company Limited (NCGTC) to provide additional credit support by MLIs to the eligible exporters including MSMEs. A management Committee formed under the chairmanship of Secretary, DFS will oversee the progress and implementation of the scheme. The Scheme is expected to enhance the global competitiveness of Indian exporters and support diversification into new and emerging markets. By enabling collateral-free credit access under CGSE, it will be strengthening liquidity, ensure smooth business operations, reinforce India’s progress towards achieving the USD 1 trillion export target. Powered by Capital Market - Live News
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