23rd December 2024: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) marked a significant milestone by hosting a felicitation of MLIs and MSE Beneficiaries on approving #1 crore guarantees. The event was held at SIDBI Swavalamban Bhavan in the presence of Shri Manoj Mittal, Chairman & Managing Director, SIDBI & Chairman of CGTMSE, Shri Sudatta Mandal, DMD, SIDBI, Shri Manish Sinha, CEO CGTMSE along with distinguished guests from State Bank of India, HDFC Bank and Union Bank. The occasion celebrated the achievements of CGTMSE’s commitment to fostering financial inclusion and empowering small businesses.

The occasion was graced by the Chairman who felicitated the three Micro and Small Enterprises (MSE) borrowers – Ms. Gauri Deepak Samudre proprietor of UNIQUE DIGITAL PRINTING, Shri Meet Yogesh Sanghvi, promoter of KEMKO TITANIUM PRIVATE LIMITED and Shri MVGS Anil Kumar, CFO of HIGHNESS MICROELECTRONICS PVT LTD. These borrowers were supported by three leading Member Lending Institutions (MLIs) — Union Bank, State Bank of India, and HDFC Bank respectively, whose contributions were instrumental in making this accomplishment possible.

Speaking at the event, Shri Mittal emphasized the transformative impact of credit guarantees on the MSE ecosystem, enabling businesses to access funding without collateral, third party guarantee and achieve sustainable growth. Shri Anindya Sunder Paul, CGM, State Bank of India, Shri Sanjay D’Souza, Group Head, HDFC Bank and Shri G K Sudhakar, Rao, GM MSME, Union Bank also shared insights on strengthening the MSE sector and nurturing entrepreneurship through collaborative efforts.

The Event concluded with vote of thanks by Shri Dhiraj Kumar, DGM expressing his gratitude and noting that the felicitation ceremony was an opportunity to celebrate the partnership between CGTMSE, the lending institutions and the MSEs, all of whom are vital to the economic fabric of the nation.