On Tuesday, the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) announced that it had approved one crore guarantees to MSE beneficiaries, marking a significant milestone. The federal government and Sidbi established CGTMSE in August 2000 to give micro and small businesses access to financing without the requirement for collateral or third-party guarantees. The government aims to ramp up credit guarantees extended to MSMEs through the CGTMSE scheme.