DPIIT notifies establishment of Credit Guarantee Scheme for Startups: Department for Promotion of Industry and Internal Trade (DPIIT) under Ministry of Commerce has notified the establishment of Credit Guarantee Scheme for Startups (CGSS).
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It will provide credit guarantees to loans extended by Scheduled Commercial Banks, Non-Banking Financial Companies and Securities and Exchange Board of India (SEBI) registered Alternative Investment Funds (AIFs).
Credit guarantees cover under the Scheme would be transaction based and umbrella based.
