Credit Guarantee Scheme for Stand Up India w.e.f 05.04.16

By | May 24, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY  [PART I—SEC. 1]

 MINISTRY OF FINANCE

(Department of Financial Services)

NOTIFICATION

New Delhi, the 19th May, 2016

S.O. 1826(E).— Whereas, by a notification of the Ministry of Finance, Department of Financial Services vide number S.O.1499(E) dated 25th April, 2016, the Central Government made the Credit Guarantee Scheme for Stand Up India (the Scheme) for the purpose of providing guarantees to loans extended by Scheduled Commercial Banks under the Stand Up India Scheme and the said Government has been empowered to issue notification in respect of enforcement of this Scheme;

2. Now, therefore, in terms of the provisions relating to commencement of the said Scheme, the Central Government appoints the 5th day of April, 2016 as the date on which the said Scheme shall come into force.

[F.No.28/05/20 16-C P/IF-II]

PANKAJ JAIN, Jt. Secy. (IF-II)

Explanatory Memorandum: Giving retrospective effect to the commencement of the Scheme will not adversely affect any person.

Note: The Credit Guarantee Scheme for Stand Up India was published in the Gazette of India, Extraordinary, Part-II, Section 3 (ii) vide notification number S.O. 1499 (E), dated the 25th April, 2016.

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