Credit Guarantee Scheme for Farmers:- Credit Guarantee Scheme has been launched by the Central Government in the interest of farmers. Through this scheme, the government will provide loans up to Rs 75 lakh to farmers at 80-85% coverage rate from banks. So that farmers can increase their income by purchasing their agricultural products and increasing farming. If you want to get complete information related to Credit Guarantee Scheme. So today we will provide you complete information related to this scheme. So for more information stay tuned to our article till the end.
Credit Guarantee Scheme for Farmers 2025
The Central Government has started the Credit Guarantee Scheme for the farmers of the country. Through this scheme, the government will provide loans up to Rs 75 lakh to small and marginal farmers at 80-85% coverage rate. And for non-agricultural purposes, the government will provide loans up to Rs 200 lakh. The TGE loan amount given to marginal farmers will start from Rs 3 lakh. Under the scheme, there will be 80 to 85% coverage in loans given to small and marginal farmers up to Rs 75 lakh and 75% coverage in loans given to MSMEs/FPOs/traders up to Rs 200 lakh. FPOs and small traders (MSMEs) will also benefit from this program. If you want to apply under this scheme then you can apply by visiting the official website.
Credit Guarantee Scheme for Farmers Objective
The main objective of the Credit Guarantee Scheme is to provide benefits to the farmers. With this, farmers will be able to increase their income by purchasing their agricultural products and increasing farming. FPOs and small traders (MSMEs) will also benefit from this program. The TGE loan amount given to farmers will start from Rs 3 lakh. Under the scheme, there will be 80 to 85% coverage in loans given to small and marginal farmers up to Rs 75 lakh and 75% coverage in loans given to MSMEs/FPOs/traders up to Rs 200 lakh.
Credit Guarantee Scheme for Farmers Details in Highlights
| Name of scheme | Credit Guarantee Scheme for Farmers |
| Launched by | Union Food and Consumer Affairs Minister |
| Beneficiaries | Farmers of the country |
| Objective | Providing loans to Micro, Small and Medium Enterprises (MSMEs) without any collateral guarantee. |
| Year | 2024-25 |
| Budget | 1000 crore |
| Application Process | Online |
| Official Website | https://www.cgtmse.in/ |
Budget Allocation
Under this scheme, a budget of Rs 1000 crore has been set by the government for the financial year 2024-25.
Settlement of Claim
| Eligible claim | First installment of claim (Percent of default amount) | 2nf installment of claim (Percent of default amount) |
| Up to rupees 75 lakhs | 75 Percent | 25 Percent |
| Above Rs. 75 Lakhs and upto Rs. 2 crore | 60 percent | 40 Percent |
Benefits & Features of the Credit Guarantee Scheme for Farmers 2024
- The Central Government has launched the Credit Guarantee Scheme to increase the income of the country’s farmer.
- This scheme aims to encourage micro, small, and medium enterprises by providing them with financial assistance.
- The launch of this scheme will increase the country’s economic growth and definitely enhance its agricultural practices.
- This will also help small and marginal farmers to earn their livelihood.
- The scheme will provide loans for both agricultural and non-agricultural processes.
- Such schemes help achieve the goal of a self-reliant India.
Eligibility Criteria
- The applicant farmer must be a permanent resident of India.
- To apply, the applicant must be a small and marginal farmer.
- The applicant should not have any permanent source of income.
- The bank account of the beneficiary farmer should be linked to the Aadhar card.
Required Documents to Apply
- Aadhar card
- PAN Card
- Domicile certificate
- Bank account details
- Mobile number
- Email Id
- Passport size photo
Steps to Apply Online for Credit Guarantee Scheme for Farmers 2024
1st Step:- First, go to the official website of the Credit Guarantee Scheme.
2nd Step:- On the homepage, you have to click on the Apply Now option. The application form will open.
3rd Step:- All the information asked in the application form is to be entered carefully.
4th Step:- After that, upload the necessary documents.
5th Step:- Finally, click on the submit button to complete the application process.
FAQs
What is the helpline number of this scheme?
The helpline number of this scheme is 1800222659.
Who is eligible for the Credit Guarantee Scheme for Farmers?
Small and marginal farmer of the country are eligible for the Credit Guarantee Scheme.
What is the loan guarantee scheme for farmers?
This scheme has been started to provide loans to the farmers of the country.