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State Bank of India, has decided to waive guarantees and annual service fees for loans to small and medium businesses guaranteed under the Credit Guarantee Fund Trust scheme.To improve credit flow to the SME sector, the government-appointed Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) acts as a guarantor to loans up to Rs 1 crore. CGTMSE charges the above-mentioned twin fees to borrowers.The Trust, which came into being four years ago, charges a guarantee fee ranging from 1 to 1.5 per cent of the loan amount while the annual service fee ranges from 0.50-0.75 per cent.
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Have them in circles
32 people
Amit Kumar's profile photo
ajay singh's profile photo
Ashu Sharma's profile photo
Faiz Ali's profile photo
Rudra Naresh's profile photo
mukesh kumar's profile photo
Madhusudhana Rao Boddu's profile photo
Imperfect learner's profile photo
aman singh's profile photo
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