Distressed Asset Fund-Subordinate Debt Scheme for MSMEs.
Dear all,
Your association SIMA is forwarding a letter issued by Additional Development Commissioner, Ministry of MSME, Government of India regarding recently launched Distressed Asset Fund-Subordinate Debt Scheme for MSMEs.
The scheme was a part of Atmanirbhar Bharat announcements made by Hon’ble Finance Minister on 13th May 2020. Under this scheme, the credit facility is available to the promoters of the MSMEs from Scheduled Commercial Bank (SCBs) for infusing the same as equity/ sub-debt in the unit and CGTMSE provides guarantee coverage to the Banks for the credit facility extended to the eligible MSMEs.
For more details, please go through the attached letter.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
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