Organisation : Ministry of Social Justice and Empowerment (IFCI)
Scheme Name : Credit Enhancement Guarantee Scheme For Scheduled Castes (CEGSSC)
Applicable For : Scheduled Castes
Applicable State/UT : All India
Website : https://www.ifcicegssc.in/
What is IFCI CEGSSC Scheme?
To encourage and promote entrepreneurships among the Scheduled Castes who are oriented towards innovations and growth technologies by supporting the Bank and Financial Institutions [designated as Members Lending Institutions (MLIs) for the Scheme], in the form of Credit Enhancement Guarantee (minimum Rs.0.15 crore and maximum Rs.5.00 crore) against Working Capital Loans, Term Loans or Composite Terms Loans granted by MLIs to SC entrepreneurs.
Related / Similar Scheme : PM CARES For Children Scheme
Highlights of IFCI CEGSSC Scheme
** Eligibility – Registered Companies and Societies/Registered Partnership Firms/Sole Proprietorship firms/Individual SC Entrepreneur having more than 51% shareholding by Scheduled Caste entrepreneurs/promoters/members with management control for the past 6 months are eligible for guarantee from IFCI against the loans extended by MLI Banks/Institutions.
** Amount of guarantee cover – Minimum Rs.0.15 crore and maximum Rs.5.00 crore.
** Tenure of Guarantee – Maximum 7 years or repayment period whichever is earlier.
How To Apply For IFCI CEGSSC Scheme?
To apply for IFCI CEGSSC Scheme, Follow the below steps
CEGSSC Login:
Step-1 : Enter valid Email Id & Password. Enter “Email id” and “Password” received from admin.
Step-2 : Enter captcha code. Enter code of image as captcha.
Step-3 : Click on “Login” Click on Login to access the portal
CEGSSC Forgot Password:
Step-1 : Click on “Forgot Password” link. Enter valid email id and captcha code. For resetting password link will send on provided email address. By clicking on this link we will navigate to “Reset password” window.
Step-2 : Enter new password and confirm password. Here can set new password on this window.
Step-3 : Click on “Reset” button By clicking on this we can reset password and can Login by using Step 1.
CEGSSC Application Form:
Step-1 : RO will fill the Borrower/Enterprise details and other mandatory fields. RO fill the details according to guidelines and available information.
Step-2 : Ro will fill Loan details and other mandatory fields. RO will fill the loan amount. It will set guaranty cover itself. RO needs to enter loan amount as per “Constitution”.
Step-3 : Click on Save & Upload Documents After filling details RO need to upload document
FAQ On IFCI CEGSSC Scheme
Frequently Asked Questions FAQ On IFCI CEGSSC Scheme
1. Which type of borrowers can be covered under the Scheme?
Registered Companies and Societies/Registered Partnership Firms/Sole Proprietorship firms/Individual SC Entrepreneurs having more than 51% shareholding by Scheduled Caste entrepreneurs/promoters/members with management control for the past 6 months engaged in manufacturing and services sector are cover under the Scheme.
2. Whether individuals and sole proprietorship firms are eligible to for the coverage under the scheme?
Yes, an individual is covered in the scheme.
3. Whether One Person Company firms are eligible to for the coverage under the scheme?
Yes, Registered companies including One Person Companies are eligible to be covered under the scheme.
4. Whether the borrower can approach any bank to get the coverage in the scheme?
No, Only the banks who have signed the undertaking for the scheme to become a member of the scheme known as Member Lending Institution (MLI) are allowed to get benefits of the scheme for their borrowers. The list of MLIs along with their Nodal Officers for the scheme is available on the IFCI’s website, i.e. ifciltd.com and also on portal of the scheme, i.e. https://ifcicegssc.in.
5. Whether working capital loan is eligible to be covered under the scheme?
Yes. The term “Loan” shall cover Working Capital Loan, Term Loan/Composite Term loan granted to SC Enterprises by MLIs is covered under the scheme.
Contact:
Contact us at e-mail of the scheme, phone 011-4173-2117, 011-4173-2415