Higher credit guarantee to boost startup funding, R&D: DPIIT

The revised credit guarantee scheme for startups will further reduce the perceived risks of lending to them, enabling greater financial support to undertake research and development, and creating cutting-edge technologies, an official statement said on Friday. The government on Thursday approved a revised Credit Guarantee Scheme for Startups (CGSS), which increases the ceiling on guarantee cover per borrower from Rs 10 crore to Rs 20 crore. The broad objective of CGSS is to provide guarantee up to a specified limit against credit instruments…