CONTENTS
- Credit Guarantee Scheme for Startups
- Tele-MANAS
Credit Guarantee Scheme for Startups
Focus: GS III: Indian Economy
Why in News?
Recently, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the credit guarantee scheme for start-ups.
About Credit Guarantee Scheme for Startups (CGSS)
- The program’s goal is to provide credit guarantees for loans made by Member Institutions (MIs) to qualified borrowers who are startups.
- Financial intermediaries (banks, financial institutions, and non-banking financial companies) that participate in lending or investing and meet the eligibility requirements outlined in the Scheme are considered MIs.
- This plan would aid in supplying start-ups with the crucial debt financing without the use of any collateral.
- The Scheme would provide transaction-based and umbrella-based credit guarantee coverage.
- The maximum exposure to any one instance would be Rs. 10 crore, or the actual amount of unpaid credit, whichever is smaller.
- In respect of transaction-based guarantee cover, the guarantee cover is obtained by the MIs on a single eligible borrower basis.
- Transaction based guarantees will promote lending by Banks/ NBFCs to eligible startups.
- The umbrella-based guarantee cover will provide guarantee to Venture Debt Funds (VDF) registered under Alternative Investment Funds (AIF) regulations of Securities and Exchange Board of India (SEBI) .
Aim:
- To assist businesses who have been severely harmed by the pandemic and will now suffer even more from the rising interest rate environment, when it is unlikely that new business owners will have easy access to capital.
Tele-MANAS
Focus: GS II: Governance
Why in News?
Establishing a new milestone in the field of mental health on the occasion of World Mental Health Day, Tele Mental Health Assistance and Networking Across States (Tele-MANAS) initiative of Union Ministry of Health & Family Welfare was launched.
About Tele-MANAS:
Tele-MANAS will be organised in two tier system;
- Tier 1 comprises of state Tele-MANAS cells which include trained counsellors and mental health specialists.
- Tier 2 will comprise of specialists at District Mental Health Programme (DMHP)/Medical College resources for physical consultation and/or e-Sanjeevani for audio visual consultation.
About MANAS:
- It is a comprehensive, scalable, and national digital wellbeing platform and an app developed to augment mental well-being of Indian citizens.
- It integrates the health and wellness efforts of various government ministries, scientifically validated indigenous tools with gamified interfaces developed/researched by various national bodies and research institutions.
- It is based on life skills and core psychological processes, with universal accessibility, delivering age-appropriate methods and promoting positive attitude focusing on wellness.
- Developed by National Institute of Mental Health and Neuro Sciences (NIMHANS) Bengaluru, Armed Forces Medical College (AFMC) Pune and Centre for Development of Advanced Computing(C-DAC) Bengaluru.
- Catering to the overall wellbeing of people of all age groups, the initial version of MANAS focuses on promoting positive mental health in the age group of 15-35 years.
Aim:
- To build a healthier and happier community, to empower it to nurture its innate potential for building a Swasth and Atmanirbhar Bharat.
