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Minister Narayan Rane Launches Special Scheme for IMEs

Published on February 17, 2024
Current Context: The special scheme for Informal Micro Enterprises (IMEs) was launched by MSME Minister Narayan Rane on February 14, 2024.
Minister Narayan Rane Launches Special Scheme for IMEs
  • The scheme enables IMEs to access collateral-free loans up to Rs 20 lakh under the government’s Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
  • The scheme offers an impressive 85% guarantee cover for unsecured loans up to Rs 20 lakh, specifically tailored for IMEs registered on the Udyam portal.
  • This substantial guarantee cover is anticipated to incentivize Member Lending Institutions (MLIs) to ramp up lending activities, thereby empowering IMEs with the requisite financial resources.
  • The scheme aims to foster a conducive environment for financial institutions to extend loans, thus bolstering credit flow within the Micro and Small Enterprises (MSE) sector.
  • The government’s formalization drive is gaining momentum with nearly 1.41 crore IMEs already registered on the Udyam portal out of a total of 3.74 crore MSMEs.
  • Initiatives such as the Udyam Assist Platform (UAP) have been instrumental in simplifying the registration process for IMEs, thereby enabling them to avail themselves of priority sector lending (PSL) benefits.


Q.1 What is the maximum amount of collateral-free loans that IMEs can access under the new scheme?
a. Rs 10 lakh
b. Rs 20 lakh
c. Rs 30 lakh
d. Rs 40 lakh
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