Credit guarantee scheme for startups notified for loans up to ₹10 cr

The Department for Promotion of Industry and Internal Trade has notified the establishment of the Credit Guarantee Scheme for Startups. The scheme will provide credit guarantees up to a specified limit against loans extended by financial institutions registered with SEBI. Exposure of individual cases would be capped at ₹10 crore, or the actual outstanding credit amount, whichever is less.