Manipur State Credit Guarantee Scheme (MCGS) launched for the benefit of the displaced persons taking shelters in relief camps
KRC TIMES Manipur Bureau
Manipur Chief Minister N. Biren Singh on Thursday launched the Manipur State Credit Guarantee Scheme (MCGS) and highlighted the benefit of the scheme that could provide to the displaced persons staying at various relief camps. Around 60, 000 Internally Displaced Persons (IDPs) are taking shelter at different relief camps due to the ongoing communal clash that broke out on May 3.
Organized by the Planning Department, Government of Manipur at Hotel Imphal, with Chief Minister N. Biren Singh as the Chief Guest, the Scheme was launched with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), set up by the Ministry of MSME, Government of India and Small Industries Development Bank of India (SIDBI).
The Chief Minister speaking on the occasion said that a loan amount of Rs. 50,000 would be provided to the beneficiaries, as an initial stage, for carrying out any activities for earning. Training for earning livelihood activities and marketing platforms for their products would be provided to the displaced people. As such, there would be no financial and marketing problems, he added. He continued that, with training, the displaced people would become experts in a specific activity and would facilitate in availing the benefit of Rs. 10 lakhs under the One Family One Livelihood scheme of the State Government, once they return to their original places.
N Biren informed that the State Government is giving the guarantee under its Credit Guarantee Scheme. Continuing that SIDBI would be sanctioning an amount of around Rs. 700 crores in the next five years and cited that if this opportunity is harnessed optimally, around 28,000 employments can be generated in these five years to come. Employment generation is an important factor for economic growth, he added.
During the program, dummy cheques of loans and loan sanction letters sanctioned by different banks were handed over to beneficiaries under the One Family One Livelihood Scheme and Manipur State Credit Guarantee Scheme. A promotional film of CGTMSE was also showcased.
