Small businesses to get collateral-freeloans up to ₹10 cr.

The Delhi government on Tuesday signed a memorandum of understanding (MoU) with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to provide collateral-free loans of up to ₹10 crore to new and existing micro and small enterprises (MSEs).

Terming the initiative a “major boost” for small entrepreneurs, Chief Minister Rekha Gupta said loan guarantees will be jointly shared by the city government and CGTMSE, a Central government entity, under the Delhi Credit Guarantee Scheme.