The Ministry of Micro, Small and Medium Enterprises, GOI, and the Small Industries Development Bank of India (SIDBI) coordinately inaugurated a trust. It is the Credit Guarantee Fund Trust for Micro and Small Enterprises. Popularly known as the CGTMSE scheme. The scheme launched on 30 August 2000. The main purpose of the CGTMSE scheme is to provide credit guarantees to financial institutions that grant loans to SMEs and MSMEs.