The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has significantly impacted the Micro and Small Enterprises (MSMEs) landscape by approving and extending guarantees to a staggering 78,06,655 enterprises under the Credit Guarantee Scheme for Micro and Small Enterprises since its inception in 2000 until October 31, 2023.

The Ministry of MSME, in collaboration with industry associations, MSMEs, and banks, has actively organized 52 awareness programs and training sessions for financial institutions during the current year. Operating under the guidelines of the Credit Guarantee Scheme, CGTMSE provides crucial credit guarantees to Member Lending Institutions (MLIs), ensuring financial support for MSMEs. Furthermore, recent Gazette Notifications dated October 18, 2022, underscore the commitment to supporting MSME growth, allowing enterprises undergoing re-classification to continue enjoying non-tax benefits of their original category for three years from the date of the upward change. The CGTMSE's dynamic impact continues to fortify the MSME sector, offering a vital lifeline to enterprises across the nation.