National Credit Guarantee Trustee Company

What National Credit Guarantee Trustee Company does

National Credit Guarantee Trustee Company Limited (NCGTC) is a private limited company wholly owned by the Government of India, established on March 28, 2014 by the Department of Financial Services, Ministry of Finance. It acts as a common trustee company managing multiple government-backed credit guarantee funds designed to share lending risk between the Government of India and Member Lending Institutions (MLIs) — including IBA member banks, NBFCs, MFIs, and other financial intermediaries. As of March 31, 2026, NCGTC manages twenty dedicated credit guarantee trusts with a cumulative committed corpus of ₹97,777.50 crore, spanning schemes covering education loans (CGFEL), skill development (CGFSD), factoring (CGFF), micro units (CGFMU), Stand Up India for SC/ST/Women entrepreneurs (CGFSI), the COVID-19 emergency credit lines (ECLGS and ECLGS 5.0), microfinance (CGSMFI / CGSMFI-2.0), COVID-affected healthcare (LGSCAS) and tourism (LGSCATSS) sectors, startups (CGSS), corporate debt market stability (GSCD), low income housing (CRGFTLIH), MSMEs (MCGS-MSME), warehouse receipt financing (CGS-NPF), and exporters including e-commerce exporters (CGSE, CAECE, SEOE).

NCGTC's core technology is the SURGE B2B platform for guarantee issuance and claims settlement across MLIs, supported by a dedicated ECLGS portal at app.eclgs.com. The company holds ISO 27001 certification from Alcumus ISOQAR for its Information Security Management Systems. NCGTC operates from Mumbai with offices at Parinee Crescenzo and Swavalamban Bhavan in Bandra Kurla Complex, with a leadership team headed by CEO Shri Damodar Mishra (formerly of NABARD and NABSanrakshan) and COO Shri Naresh Kumar, supported by an independent board including nominees from the Department of Financial Services and the Chairman of State Bank of India.

The business model is a trustee/managed services operation: NCGTC receives and manages guarantee corpus from the Government of India, sets guarantee terms across schemes, onboards MLIs, processes guarantee issuance through its digital platform, settles claims when triggered, and reports scheme performance through publications, circulars, and annual reports. End borrowers — students, micro entrepreneurs, women/SC/ST entrepreneurs, MSMEs, startups, healthcare and tourism operators, and exporters — access NCGTC's guarantees only indirectly through empaneled MLIs. Pricing is not publicly disclosed, consistent with the company's status as a Government of India entity operating policy-driven financial inclusion schemes rather than a commercially-priced service.

Name

National Credit Guarantee Trustee Company

Legal name

National Credit Guarantee Trustee Company Limited

Website

https://ncgtc.in

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

National Credit Guarantee Trustee Company (NCGTC) is a Government of India entity that acts as common trustee for twenty credit guarantee trusts covering MSMEs, students, startups, healthcare, tourism, and exporters. It enables collateral-free lending by distributing guarantees through Member Lending Institutions via its SURGE B2B platform.

Ownership category

akta.pro rank

Product category

Credit Guarantee Trustee Services

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB)

akta.pro secondary industry

Corporate & Institutional Trust Services (FSAAANAB)

Keywords

• Credit guarantee schemes
• Trustee services
• MSME credit guarantee
• Collateral-free lending
• Financial inclusion

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Credit Guarantee Trustee Services: NCGTC acts as a common trustee company for multiple credit guarantee funds. The company manages guarantee schemes on behalf of the Government of India, sharing lending risk with lenders to facilitate credit access for borrowers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

NCGTC acts as a common trustee company for multiple credit guarantee funds established by the Government of India, providing guarantee coverage to Member Lending Institutions (banks, NBFCs, MFIs) against collateral-free loans extended to underserved segments including MSMEs, students, startups, micro enterprises, women/SC/ST entrepreneurs, healthcare, tourism, and exporters. The company enables collateral-free lending across 20 dedicated guarantee trusts, manages guarantee issuance and claim settlement through its SURGE platform, and supports financial inclusion objectives of the Department of Financial Services, Ministry of Finance.

Product overview

National Credit Guarantee Trustee Company (NCGTC) is a Government of India wholly-owned company established by the Department of Financial Services, Ministry of Finance, to act as a common trustee company for multiple credit guarantee funds. NCGTC operates as an umbrella organization managing 20 dedicated credit guarantee trusts under its architecture, cumulatively having a committed corpus of ₹97,777.50 crore as on March 31, 2026. The company's B2B platform enables seamless guarantee issuance and claim settlement. The product portfolio includes credit guarantee schemes covering various sectors: educational loans (CGFEL), skill development (CGFSD), factoring (CGFF), micro units (CGFMU), Stand Up India (CGFSI), emergency COVID credit lines (ECLGS and ECLGS 5.0), MFIs (CGSMFI/CGSMFI-2.0), healthcare and tourism COVID relief (LGSCAS/LGSCATSS), startups (CGSS), corporate debt (GSCD), low income housing (CRGFTLIH), MSMEs (MCGS-MSME), warehouse receipt financing (CGS-NPF), exporters (CGSE/CAECE/SEEO), and credit repayment guarantees (CRGSS). The organization achieved ISO 27001 certification for Information Security Management Systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Guarantee Fund Scheme for Educational Loans (CGFEL) Guarantees for Education Loans extended by member banks of IBA up to ₹7.5 lakh to eligible borrowers without collateral or third-party guarantee. Target audience: students seeking higher education financing.
• Credit Guarantee Fund Scheme for Skill Development (CGFSD) Guarantees for Skill Development Loans by member banks of IBA up to ₹1.5 lakh, extended without collateral or third-party guarantee. Target audience: individuals seeking vocational training financing.
• Credit Guarantee Fund Scheme for Factoring (CGFF) Guarantees for domestic factored debts of MSMEs. Target audience: factoring institutions and MSMEs using factoring as a working capital tool.
• Credit Guarantee Fund for Micro Units (CGFMU) Guarantees for loans up to ₹10 lakh sanctioned by Banks, NBFCs, MFIs, and other financial intermediaries to eligible micro units. Overdraft loan amount of ₹10,000 sanctioned under PMJDY accounts is also eligible. Target audience: micro enterprises.
• Credit Guarantee Fund for Stand Up India (CGFSI) Guarantees for credit facilities of over ₹10 lakh and up to ₹100 lakh sanctioned by eligible lending institutions under the Stand Up India Scheme for SC/ST/Women entrepreneurs setting up Greenfield enterprises.
• Emergency Credit Line Guarantee Scheme (ECLGS) Special scheme providing 100% guarantee coverage to Banks and NBFCs on credit extended to Business Enterprises and MSMEs on their loan outstanding as on February 29, 2020, to meet additional term loan/working capital requirements impacted by COVID-19 lockdown.
• Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 Fifth iteration of the Emergency Credit Line Guarantee Scheme providing continued credit guarantee support to eligible borrowers via Member Lending Institutions.
• Credit Guarantee Scheme for MFIs (CGSMFI) Provides guarantee coverage to Scheduled Commercial Banks and AIFIs for funding provided to NBFC-MFIs or MFIs for on-lending to eligible small borrowers. Target audience: microfinance institutions and small borrowers.
• Loan Guarantee Scheme for COVID Affected Sectors (LGSCAS) Guarantee coverage for funding provided by Scheduled Commercial Banks to eligible healthcare sector projects in non-metropolitan areas for setting up or modernizing hospitals, medical colleges, pathology labs, diagnostic centres, and manufacturing facilities for vaccines, oxygen, ventilators, and priority medical devices. Maximum loan ₹100 crore per project.
• Loan Guarantee Scheme for the COVID Affected Tourism Service Sector (LGSCATSS) Guarantee coverage for loans provided by Scheduled Commercial Banks to registered Tourist Guides and Travel & Tourism Stakeholders recognized by the Ministry of Tourism, to discharge liabilities and restart their business affected due to COVID-19 pandemic.
• Credit Guarantee Scheme for Startups (CGSS) Provides guarantee coverage up to a specified limit against credit instruments extended by Member Institutions to finance eligible Startups, enabling collateral-free debt funding. Target audience: eligible startups seeking debt funding.
• Guarantee Scheme for Corporate Debt (GSCD) Scheme designed to bring about stability in the debt market at times of market dislocation by ensuring liquidity through mutual guarantee concept.
• Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) Credit risk guarantee fund supporting low income housing initiatives, providing guarantee coverage to lenders extending housing credit to low-income segments.
• Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) Mutual credit guarantee scheme supporting MSMEs by providing guarantee coverage to lenders extending credit to eligible micro, small, and medium enterprises.
• Credit Guarantee Scheme for e-NWR based Pledge Financing (CGS-NPF) Credit guarantee scheme supporting electronic Negotiable Warehouse Receipts (e-NWR) based pledge financing, providing guarantee coverage to lenders financing against warehouse receipts.
• Credit Guarantee Scheme for Exporters (CGSE) Credit guarantee scheme supporting exporters by providing guarantee coverage to lenders extending credit to eligible Indian exporters.
• Credit Guarantee Scheme for Microfinance Institutions — 2.0 (CGSMFI-2.0) Second version of the credit guarantee scheme for microfinance institutions, providing guarantee coverage to lenders funding NBFC-MFIs and MFIs for on-lending to small borrowers.
• Credit Repayment Guarantee Sub-Scheme (CRGSS) Sub-scheme providing credit repayment guarantee support to lenders, covering eligible borrowers' repayment obligations.
• Credit Assistance for E-Commerce Exporters (CAECE) Credit assistance scheme for e-commerce exporters, providing guarantee coverage to lenders extending credit to eligible Indian exporters operating through e-commerce channels.
• Support for Emerging Export Opportunities (SEOE) Support scheme for emerging export opportunities, providing guarantee coverage to lenders extending credit to eligible Indian exporters pursuing new or emerging markets.

Quantifiable outcome

• ₹97,777.50 crore committed corpus across 20 guarantee trusts managed
• +2 more outcomes

Segments10 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Department of Financial Services, Ministry of Finance, Government of IndiacoreOthers · 28 March 2014NCGTC was established by the Department of Financial Services, Ministry of Finance as a wholly owned company of the Government of India to act as a common trustee company for multiple credit guarantee funds. DFS oversees and directs NCGTC's operations.
• NABSanrakshan Trustee Private Limited (Wholly owned subsidiary of NABARD)minorOthersNCGTC CEO Shri Damodar Mishra previously served as CEO of NABSanrakshan before appointment at NCGTC, indicating operational and knowledge-sharing connections between the two NABARD subsidiaries managing credit guarantee schemes.
• Indian Bank's Association (IBA)coreOthersNCGTC works with IBA member banks for guarantee schemes including CGFEL (education loans up to ₹7.5 lakh), CGFSD (skill development loans up to ₹1.5 lakh). IBA provides framework for member banks to participate in guarantee programmes.
• Member Lending Institutions (Banks, NBFCs, MFIs)coreChannel Partner/ Reseller/ DistributorBanks, NBFCs, MFIs and other financial intermediaries serve as the primary distribution channel for credit guarantees. These institutions extend loans to end borrowers and obtain guarantee coverage from NCGTC, enabling collateral-free lending across various segments.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• NABSanrakshan Trustee Private Limited: Wholly owned subsidiary of NABARD that acts as a trustee company for credit guarantee schemes in the agriculture and rural finance domain. Direct peer to NCGTC with a similar trustee-based operating model, and notably shares former leadership (NCGTC CEO previously led NABSanrakshan).
• Deposit Insurance and Credit Guarantee Corporation (DICGC): Subsidiary of the Reserve Bank of India that provides credit guarantee coverage to depositors and certain categories of borrowers. Directly comparable as a government-backed credit guarantee entity, with NCGTC Independent Director Dr. Partha Ray serving on both boards.
• Export Credit Guarantee Corporation of India (ECGC): Government of India undertaking providing credit guarantee and insurance to Indian exporters. Directly comparable as a state-owned credit guarantee institution, with a similar mission of de-risking lender exposure to underserved segments.
• Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): Government-sponsored trust that provides credit guarantees to MSEs through member lending institutions. Direct peer operating under a similar guarantee-trust architecture, jointly underpinned by GoI and SIDBI.

Broad incumbents

• Micro Units Development and Refinance Agency (MUDRA): Government of India development finance institution for micro enterprises under the Pradhan Mantri Mudra Yojana. Operates in the same MSME and micro-credit guarantee space and is a broader incumbent with overlapping end-borrower segments.
• National Housing Bank (NHB): Government of India regulator and apex housing finance institution. NCGTC manages the Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH), and NHB figures in NCGTC's management past-experience, indicating overlapping engagement in housing credit guarantees.
• National Bank for Agriculture and Rural Development (NABARD): Government of India development bank focused on agriculture and rural finance, parent of NABSanrakshan Trustee. Broad incumbent in the same development-finance ecosystem; NCGTC CEO and other leaders have NABARD backgrounds, and the two organizations collaborate on rural credit guarantees.
• Small Industries Development Bank of India (SIDBI): Principal financial institution for MSME financing and promoter of the CGTMSE guarantee trust. A broader incumbent in the same policy ecosystem, with overlapping mandate in MSME credit enablement and co-funding of guarantee schemes.

Others

• India Infrastructure Finance Company Limited (IIFCL): Government of India-owned infrastructure finance company. Adjacent in the state-owned financial ecosystem with potential role in structuring credit enhancement products, though not a direct credit guarantee trustee.
• Indian Bank's Association (IBA): Industry association of Indian banks that provides the framework for member banks to participate in NCGTC guarantee schemes including CGFEL and CGFSD. Ecosystem partner connecting NCGTC to its primary channel of Member Lending Institutions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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• LinkedInlinkedin.com/company/national-credit-guarantee-trustee-company-ltd
• Instagraminstagram.com/ncgtcofficial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about National Credit Guarantee Trustee Company