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    Circ 28

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    Harsh Mehta
    The Development Commissioner for Handicrafts has extended the Credit Guarantee Scheme for handicraft artisans across India instead of just Jammu and Kashmir. Member banks of CGTSI that extend eligible credit facilities to handicraft artisans will be reimbursed for guarantee and annual service fees paid to CGTSI by the Development Commissioner's office. Member banks should promptly process eligible credit proposals and applications from artisans, including through Artisan Credit Cards, and ensure all CGTSI Credit Guarantee Scheme terms are met before seeking guarantees. Clarification can be sought from CGTSI as needed.

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    Circ 28

    Uploaded by

    Harsh Mehta
    11 views1 page
    The Development Commissioner for Handicrafts has extended the Credit Guarantee Scheme for handicraft artisans across India instead of just Jammu and Kashmir. Member banks of CGTSI that extend eligible credit facilities to handicraft artisans will be reimbursed for guarantee and annual service fees paid to CGTSI by the Development Commissioner's office. Member banks should promptly process eligible credit proposals and applications from artisans, including through Artisan Credit Cards, and ensure all CGTSI Credit Guarantee Scheme terms are met before seeking guarantees. Clarification can be sought from CGTSI as needed.

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    CIRC 28

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    The Development Commissioner for Handicrafts has extended the Credit Guarantee Scheme for handicraft artisans across India instead of just Jammu and Kashmir. Member banks of CGTSI that extend eligible credit facilities to handicraft artisans will be reimbursed for guarantee and annual service fees paid to CGTSI by the Development Commissioner's office. Member banks should promptly process eligible credit proposals and applications from artisans, including through Artisan Credit Cards, and ensure all CGTSI Credit Guarantee Scheme terms are met before seeking guarantees. Clarification can be sought from CGTSI as needed.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    11 views1 page

    Circ 28

    Uploaded by

    Harsh Mehta
    The Development Commissioner for Handicrafts has extended the Credit Guarantee Scheme for handicraft artisans across India instead of just Jammu and Kashmir. Member banks of CGTSI that extend eligible credit facilities to handicraft artisans will be reimbursed for guarantee and annual service fees paid to CGTSI by the Development Commissioner's office. Member banks should promptly process eligible credit proposals and applications from artisans, including through Artisan Credit Cards, and ensure all CGTSI Credit Guarantee Scheme terms are met before seeking guarantees. Clarification can be sought from CGTSI as needed.

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    CGTSI/(44)/793

    October 21, 2005

    All the Member Lending Institutions (MLIs) of CGTSI


    Circular No. 28 / 2005-06
    Dear Sir / Madam,
    Eligibility of credit facilities extended to Handicrafts
    artisans under Credit Guarantee Scheme (CGS) of CGTSI
    The Development Commissioner (Handicrafts), Ministry of Textiles, GoI [DC(HC)] has
    advised that the Credit Guarantee Scheme for handicrafts artisans, which was hitherto being
    implemented through his Office only in the State of Jammu & Kashmir as a part of special
    package for that State, has now been extended to the rest of India to facilitate credit flow to
    handicrafts sector all across the country. In view of this development, the credit facilities
    extended to the handicrafts artisans by the eligible banks [who have registered with CGTSI as
    its Member Lending Institutions (MLIs)] and covered it under Credit Guarantee Scheme shall
    be reimbursed by the office of DC(HC) guarantee fee and annual service fee paid by them to
    CGTSI. For the procedural aspects relating to reimbursement of guarantee / service fees the
    member-banks have to approach the O/o of DC(HC) directly.
    The member-banks are requested to undertake prompt and speedy processing of the
    eligible credit proposals / applications of handicrafts artisans and also to facilitate credit
    through Artisan Credit Cards (ACC) issued to artisans and there coverage under CGS. It may
    be reiterated that the member - banks should ensure that all terms and conditions stipulated
    under the CGS of CGTSI are fully satisfied, prior to lodging the applications for seeking
    guarantee cover.
    Please feel free to get in touch with us in case any further clarifications are required.
    Thanking you,

    Yours faithfully,
    Sd/(S N Sadhwani)
    Dy. General Manager

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