Reg Loan under CGTMSE

To
Consumer court

I have been applying loan for start up with Banks under CGTMSE scheme. Some banks are refusing to consider my proposal due to No collateral.

Shall I complaint about the Bank

What is the documents required for the same.

Kindly advice

Thanks & Regards,

Chandru
Navi Mumbai

Comments

  • edited May 2011
    I have been applying loan under service sector (retail trade),as per RBI circular retail trade covered under service sectorunder priority sector,but bank cancelled loan saying that retail trade should not covered under CGTMSE.is it true?


    Thanks & Regards.

    Priyanka Damele
    Kanpur
  • dufferdevdufferdev Junior Member
    edited September 2011
    It is true. Retail is excluded under this scheme.


    Kindly find the link below for your reference:


    cgtmse(dot)com/FAQs.aspx?artid=115


    Hope this helps you...


    Keep posted if you get anything on this....


    Also much of the eligibility information is provide in the link which I provided to you

    It is true. Retail is excluded under this scheme.


    Kindly find the link below for your reference:


    cgtmse(dot)com/FAQs.aspx?artid=115


    Hope this helps you...


    Keep posted if you get anything on this....


    Also much of the eligibility information is provide in the link which I provided to you
  • edited July 2012
    Does Transport and Logistics sector covered under CGTMSE???

    If yes, all banks are point blankly refusing to offer the same. How do we go about ? Is there anyplace where we can lodge a complain like banking Ombudsman etc.
  • edited October 2013
    Sir,
    This CGTMSE scheme has given a false hope, I believe. I don't know what should be the category of borrowers who could avail the facility of the loan. An Entrepreneur who is young and has many dreams(which has been seen with working mind) to shape a prosper organization could go all in vain. I've reputed firm in kanpur city and it's on business from last 50 years. However, the 2 generations were not capable enough to understand the process of working with all standards like, taxation, audited statement etc. So, the company has no track records, however, one thing which shows the existence of the the company is the bank a/c with BOB which was active from year 1971, but no such heavy transactions were made, as the business is purely on cash basis. Now the 3rd generation got involved in the business after completing their higher qualification like CA(chartered accountant) and B.Tech. and they have made their company incorporated as Pvt. Ltd. company.
    The company wish to set up their Printing Press industry to expand their business many folds. And that need a monetary support from any financial institution, but the case got rejected as the banks are saying that, you don't have any prior track record which shows the viability of the project and they simply cancelled the proposal.

    I think govt. just make a fool of us, because they don't understand what would be the result of these types of schemes. The CGTMSE scheme are for those entrepreneurs who just have even started their business and have no collateral. In my case, we are a cash rich party and people know us by our name.

    Please, help us by letting us know, what could be done to get needful.

    Regards
    Chetan Mehrotra
  • edited October 2013
    Dear sir
    we have a business plan to extend my business and i want to take a term loan from any bank in cgtmse scheme but any bank of my city not interested in this scheme i have applied by application form and i have signed copy also can any body tell me about how to make a complante against the banks.
  • edited August 2014
    I have applied for 5 banks under CGTSME scheme for Working capital Loan. With tract record of 4 years successful. All my application were rejected. No bankers are interested in implementation/ follow govt. Scheme. it is Fool making process for Enterprises that those not having Collateral Security.
    It is waste of time and energy !
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