Regulatory Alerts2021-05-09
Added
SMESPD Circular No. 05: Regarding Policy of Credit Guarantee Scheme for Cottage, Micro and Small Enterprises (CMSE)
Public Financial Institutions must earmark at least 5% of their Portfolio Guarantee Limit to ensure collateral-free loans or investments for Women-owned Cottage, Micro and Small Enterprises. This requirement implements Para 5.3.1 of the Manual of Credit Guarantee Scheme, which grants priority access to such facilities for women-owned enterprises. The directive is issued under section 45 of the Bank Company Act, 1991 and section 18 of the Financial Institution Act, 1993, and takes immediate effect.