Government has extended the Credit Guarantee Scheme for Subordinate Debt upto 31st of March next year.

Ministry of Micro, Small and Medium Enterprises said, the government had announced creation of Distressed Assets Fund -  Subordinate Debt for Stressed MSMEs’ on 13th May last year under the Atma Nirbhar Bharat Package.

The scheme was launched to provide credit facility through lending institutions to the promoters of stressed Micro, Small and Medium Enterprises.

In order to keep the avenues of assistance to stressed MSME Units open, the Government had earlier decided to extend this scheme for six months from 31 March this year to 30th September.

The Ministry said, on the basis of the requests received from the stakeholders of the scheme, the Government has decided to further extend it by a period of another six months.

The scheme will now remain operational till 31st March next year.