Credit Guarantee Fund Startups – Prime Minister Narendra Modi unveiled government’s Start-up India policy at an event held in Vigyan Bhawan, New Delhi on January 16, 2016. The Action Plan aims to catalyze entrepreneurship by providing credit to innovators across all sections of society.
Credit Guarantee Fund Startups
In order to overcome traditional Indian stigma associated with failure of Startup enterprises in general and to encourage experimentation among Startup entrepreneurs through disruptive business models, credit guarantee comfort would help flow of Venture Debt from the formal Banking System. Debt funding to Startups is also perceived as high risk area and to encourage Banks and other Lenders to provide Venture Debts to Startups, Credit guarantee mechanism through National Credit Guarantee Trust Company (NCGTC)/ SIDBI is being envisaged with a budgetary Corpus of INR 500 crore per year for the next four years.
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