Credit Guarantee Scheme for subordinate debt/CGSSD explained
The credit facilities extended to MSMEs under ‘Distressed Assets Fund – Subordinate Debt for Stressed MSMEs scheme’ as a special dispensation, are backed by a guarantee from the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). RBI vide its circular dated July 1, 2020 permitted all the scheduled commercial banks to reckon the…