Credit guarantees worth ₹11,926 crore were approved in 2022-2023, rising to ₹23,359 crore in 2023-2024 and to ₹39,989 crore in 2024-2025 | Photo credits: IndoImages
Data submitted to the Lok Sabha shows that the number of guarantees approved in the state has increased from 66,055 in 2022-2023 to 1,29,892 in 2023-2024 and further to 2,38,128 in 2024-2025
This marks a 3.6-fold increase in approvals within a two-year span, indicating a rapid expansion of 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 approved in 2022-2023, rising to ₹23,359 crore in 2023-2024 and to ₹39,989 crore in 2024-2025. In absolute terms, the guaranteed amount has more than tripled during this period.
Credit push
The data, which includes rural enterprises in Maharashtra, indicates that micro and small businesses are increasingly dependent on the CGTMSE-backed lending framework. The scheme provides credit guarantees for loans to MSEs, with the ceiling on guarantee coverage set at ₹10 crore.
The Center has complemented this credit boost with additional measures aimed at strengthening the financing of SMEs. 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 Program offers margin subsidies 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 directed that outreach programs are being carried out in coordination with District Industries Centres, banks and other stakeholders to accelerate the flow of credit. The surge in guarantee approvals indicates increasing formalization of small businesses and stronger credit penetration in Maharashtra’s MSME sector, especially among first-generation and rural entrepreneurs seeking collateral-free financing.
Published on February 19, 2026
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