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What is CGTMSE

Chapter 25
Handbook of Research on Promotional Strategies and Consumer Influence in the Service Sector
Credit Guarantee Fund Trust Scheme for Micro & Small Enterprises which helps in providing collateral free loans to budding entrepreneurs.
Published in Chapter:
Innovative Financing and its Implications on MSME Sector in India
Raj Kumar (Banaras Hindu University, India) and Abhijeet Biswas (Banaras Hindu University, India)
Copyright: © 2016 |Pages: 13
DOI: 10.4018/978-1-5225-0143-5.ch025
Abstract
Micro, Small and Medium Enterprises' (MSMEs) contribution in the development of world economy has been significant, both in terms of contribution to GDP and creation of employment opportunities. The present paper attempts to identify the role of innovative schemes offered by the banking sector in the upliftment of MSMEs in India. The researchers try to analyze the growth in Bank credit for the MSME sector over the last decade. This paper is based on extensive review of literatures on Banking sector and their contribution in encouraging MSMEs. The review showed that the Bank credit has increased significantly for the MSME sector since the priority sector lending norms were implemented but still there is a significant gap that needs to be fulfilled when it comes to the fulfilment of the credit needs of the MSME sector.
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