Ministry of MSME already has a scheme in the form of Credit Guarantee Fund Scheme for Micro and Small Enterprises for providing guarantees in respect of credit facilities extended by Lending Institutions to the borrowers in micro and small sector including the small start-ups and new enterprises.
Setting up of a new MSME does not require any approval from Ministry of MSME. Ministry has its Field Offices in the States/UTs to implement the schemes of the Ministry and to provide handholding support to the MSMEs.
This information was given by Union Minister for MSME Narayan Rane in a written reply in Lok Sabha today.
