About this banking scheme
Scheduled Caste entrepreneurs can get credit guarantees for loans from Rs. 15 lakh to Rs. 5 crore. Apply offline through a Member Lending Institution. The official listing gives no last date, so check the official portal for the current status before applying.
The Credit Enhancement Guarantee Scheme for Scheduled Castes helps promote entrepreneurship among Scheduled Caste communities. It is run by the Ministry of Social Justice and Empowerment.
The scheme provides guarantees to banks and financial institutions that lend to eligible Scheduled Caste entrepreneurs. This support encourages financial inclusion and job creation.
By improving access to loans, the scheme aims to foster economic development and innovation within the Scheduled Caste population.
Benefits at a glance
| Scheme name | Credit Enhancement Guarantee Scheme For The Scheduled Castes (CEGSSC) |
|---|---|
| Launched by | Ministry Of Social Justice and Empowerment |
| Launch year | 2014 |
| Benefit | Scheduled Caste entrepreneurs can get credit guarantees for loans from Rs. |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | Central · All India |
| Official portal | ifcicegssc.in (link at the end of this page) |
Key facts
| Scheme type | Central Sector Scheme |
|---|---|
| Implementing agency | National Scheduled Castes Finance And Development Corporation (NSFDC) |
| Scheme for | Infra |
| Application mode | Offline |
| Last date | Not given in the official listing |
| DBT (direct bank transfer) | No |
| Implementation agency | National Scheduled Castes Finance And Development Corporation (NSFDC) |
| Maximum tenure of guarantee | 7 years or loan repayment period |
Who can apply (quick check)
- 👤All genders
- 🏷️SC
- 📝Offline
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- Guarantee cover for loans from Rs. 15 lakh to Rs. 5 crore.
- 100% cover for loans up to Rs. 1 crore.
- 80% cover for loans between Rs. 1 crore and Rs. 2 crore.
- 70% cover for loans between Rs. 2 crore and Rs. 5 crore.
- 60% cover for loans above Rs. 5 crore.
The guarantee is issued after the Member Lending Institution submits required documents within 30 days of loan disbursement.
Who qualifies
- Must belong to the Scheduled Caste category.
- Should be self-employed or an entrepreneur.
- Must apply offline through a Member Lending Institution.
- Must have over 51% ownership and management control by Scheduled Caste individuals.
- Must provide proof of Scheduled Caste status.
Who is not eligible
- Borrowers with existing loans under other guarantee schemes.
- If the borrower defaults on previous loans.
- Loans sanctioned against collateral or third-party guarantees.
- If the loan's interest rate exceeds 3% over the base rate.
Papers to keep ready
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Registration walkthrough
- Approach a Member Lending Institution for financial assistance.
- Submit the loan application and required documents to the MLI.
- After loan approval, receive a Sanction Letter from the MLI.
- The MLI registers the loan application with IFCI Limited.
- Submit required details to IFCI, including the sanction letter.
- The MLI disburses the loan to the applicant.
- Submit documents to IFCI within 30 days for guarantee cover.
- IFCI issues the Credit Enhancement Guarantee Cover.
To check the status of your application, contact your Member Lending Institution. They will provide updates on your loan and guarantee cover.
Important dates
| Launch / start | 18 Jul 2014 |
|---|
Real-life examples: are you eligible?
A quick way to gauge your eligibility: find the profile nearest to yours.
Every case differs. Confirm your eligibility on the official portal before applying.
- Not providing proof of Scheduled Caste status.
- Applying without necessary documents, leading to rejection.
- Not meeting the ownership requirement of 51% by Scheduled Caste individuals.
- Submitting applications to multiple guarantee schemes simultaneously.
- Missing the 30-day submission deadline for documents to IFCI.
Terms used in this scheme
- Credit Enhancement
Credit enhancement is a method to improve a borrower's creditworthiness. It provides lenders assurance that the borrower will repay the loan, often through additional collateral or guarantees.
Frequently asked questions
What is the main goal of the scheme?
The scheme aims to support entrepreneurship among Scheduled Castes by providing credit guarantees to banks.
Who is responsible for implementing the scheme?
The scheme is implemented by IFCI Limited.
What types of loans does the scheme cover?
It covers Working Capital Loans, Term Loans, and Composite Loans.
What is the maximum guarantee cover available?
The maximum guarantee cover is Rs. 5 crore.
How does one apply for the scheme?
Applicants must approach a Member Lending Institution to apply for loans.
What documents are required for application?
Documents include a Scheduled Caste Certificate and a Loan Application Form.
Can individual entrepreneurs apply?
Yes, individual Scheduled Caste entrepreneurs can apply for loan guarantees.
What happens if I default on a loan?
If you default, you may not be eligible for future guarantees under this scheme.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Scheme Guidelines socialjustice.gov.in (PDF)
- Additional Guidelines www.ifcicegssc.in
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
Drafted with AI tools from the official listing. Every number and date is checked automatically against the official text; confirm the details on the official portal before applying.
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