CURRENT AFFAIRS

Detailed explanation-1: -Q. 11. What is the Credit Guarantee Fund Trust Scheme for MSEs? The Ministry of MSME, Government of India and SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) with a view to facilitate flow of credit to the MSE sector without the need for collaterals / third party guarantees.

Detailed explanation-2: -You can secure an MSME no-collateral loan by applying to financial institutions under the following loans or schemes: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme provides an MSME loan without security up to Rs 10 lakh without the requirement of collateral.

Detailed explanation-3: -Credit access businesses obtain credit for a consumer from an independent third-party lender in the form of a deferred presentment transaction or a motor vehicle title loan, more commonly referred to as “payday loans” or “title loans.”