The fund, announced by Prime Minister Narendra Modi as part of the Startup India action plan in January 2016, is yet to see the light of the day. However, in July thus year, the government said it was formulating a Credit Guarantee Scheme for Startups (CGSS) with a corpus contribution of Rs 2,000 crore. The fund, it said, will enable startups raise loans without any collateral.
Nope, we can’t go to the bank and get funds as of now. Nobody will give the loan to startups.
Once this scheme will go live then only startups can get loan through banks.