Credit guarantees worth ₹11,926 crore were sanctioned in 2022–23, rising to ₹23,359 crore in 2023–24 and touching ₹39,989 crore in 2024–25
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Maharashtra has recorded a sharp surge in credit guarantees approved for Micro and Small Enterprises (MSEs), including those in rural areas, under the Credit Guarantee Scheme (CGS) of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) over the past three financial years.
Data placed before the Lok Sabha show that the number of guarantees approved in the State increased from 66,055 in 2022–23 to 1,29,892 in 2023–24 and further to 2,38,128 in 2024–25
This marks a 3.6-fold rise in approvals within a span of two years, indicating a rapid expansion in access to collateral-free institutional credit.
The amount approved under the scheme has also seen a parallel increase. Credit guarantees worth ₹11,926 crore were sanctioned in 2022–23, rising to ₹23,359 crore in 2023–24 and touching ₹39,989 crore in 2024–25 . In absolute terms, the guarantee amount has more than tripled during this period.
Credit Push
The data, which include rural enterprises in Maharashtra , suggest growing reliance on the CGTMSE-backed lending framework among micro and small businesses. The scheme provides credit guarantees for loans extended to MSEs, with the ceiling for guarantee coverage fixed at ₹10 crore.
The Centre has complemented this credit push with additional measures aimed at strengthening MSME financing. The Self-Reliant India Fund has been set up to infuse ₹50,000 crore as equity support in MSMEs , while the Prime Minister’s Employment Generation Programme offers margin money subsidy of up to 35 per cent for new micro enterprises .
Vishwakarma Scheme
The PM Vishwakarma Scheme provides loans up to ₹3 lakh with interest subvention support , and the Trade Receivables Discounting System enables digital financing of MSME receivables
The Ministry has also indicated that outreach programmes are conducted in coordination with District Industries Centres, banks and other stakeholders to expedite the flow of credit. The steep rise in guarantee approvals points to increasing formalisation of small businesses and stronger credit penetration in Maharashtra’s MSME sector, particularly among first-generation and rural entrepreneurs seeking collateral-free finance.
Published on February 19, 2026
