Additional secretary to government of India for public grievances has sought district collectors of Jaipur and Sikar to intervene in denial of bank loans to the small and micro industries. The central government secretary, V Srinivas made the instructions following complaints made by trade body representatives that certain banks have intentionally been denying loan to the small industries.
The instructions were made during a meeting of trade representatives held under the 100 day campaign of central government to boost micro, small and medium enterprises (MSME). In series of the campaign meeting of Jaipur and Sikar districts was held at the state industries department headquarters on Wednesday. Delay in sanction of bank loans emerged as a major grievance of trade representatives even as the government has proposed 59 minute loan for MSME sector.
“It was informed at the meeting that in the two districts, nearly 500 MSME units have been issued loan in 59 minutes, yet considering need to increase the cash flow to the sector district collectors were asked to hold joint meetings with bank and trade bodies,” said an officer at Industries department.
Also present during the meeting, principal secretary MSME to government of Rajasthan assured the trade representatives that the sector remains on priority of state government. During the meeting, officers from various divisions of the industries department shared information of the efforts being made by them to facilitate the MSME sector. However, for most of the trade representatives financial availability emerged as the priority concern. A cash crunch in the market has made it further complex for these small industrial units to arrange funds on short requirement.
The Meet
The instructions were made during a meeting of representatives held under the 100 day campaign of central government to boost micro, small and medium enterprises (MSME). In series of the campaign meeting of Jaipur and Sikar districts was held.
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