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.