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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.
Nabajyoti Chetia's profile photo
everything about this schemes is a total,myself is a badly sufferer from this scheme.the banks just give you a kick on your ass and through out your proposal that made you to make a lot of expenditures in preparation for the concerned proposal. and all the Authorities associated with this fake scheme{CGTMSE) including the Indian Govt. and the SIDBI would be laughing looking at you.
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