Recently (in July, 2023), Ministry of Fisheries, Animal Husbandry & Dairying has launched Credit Guarantee Scheme” for Livestock Sector. It will reboot rural economy by leveraging MSMEs.
- The Scheme is implemented under Animal Husbandry Infrastructure Development Fund (AHIDF) to strengthen credit delivery system and facilitate smooth flow of credit to the Micro, Small & Medium Enterprise (MSMEs) engaged in Livestock sector without hassles of collateral security.
- Department of Animal Husbandry & Dairying( DAHD) has established a Credit Guarantee fund Trust of Rs. 750.00 crores, which will provide credit guarantee coverage up to 25% of the credit facilities extended to the MSMEs by the eligible lending institutions.
- The credit guarantee scheme facilitates access to finance for un-served and under-served livestock sector.
- DAHD has formed a trust with NABSanrakshan Trustee Company Private Lamuted, a wholly owned subsidiary of NABARD for the establishment of a Credit Guarantee Fund Trust for extending the credit guarantee to Micro, Small & Medium Enterprises under AHIDF scheme.