Union Minister launched Operational Guidelines for the ₹1 lakh crore Urban Challenge Fund (UCF) and Credit Repayment Guarantee Sub-Scheme.\\nThe UCF aims to catalyze ₹4 lakh crore in urban investments with focus on Tier-II & Tier-III cities and specific infrastructure sectors.\\nCentral Assistance is limited to 25% of project cost, with at least 50% to be mobilized through market-based financing mechanisms.\\nThe Fund includes ₹5,000 crore for project preparation and ₹5,000 crore for credit guarantees to benefit smaller cities.