The Union Ministry of Micro, Small and Medium Enterprises (MSME) is lobbying hard with the public sector banking enterprises to extend loan facilities to micro, small and medium enterprises at base rate so that this segment is able to access vast capital from the financial and banking institutions at much cheaper rates and roll out quality products and run their enterprises effectively, according to the Union Minister for MSME, Kalraj Mishra.
“To ensure this, I am meeting the senior functionaries of banking and financial institutions at lucknow so that an earlier decision is taken on this front with their concurrence which will be duly endorsed subsequently by the Reserve Bank of India, Finance Ministry and the Prime Minister Office,” said Mishra.
Inaugurating the second Innovation Summit-2014 under aegis of PHD Chamber of Commerce and Industry, Mishra said that micro, small and medium enterprises across the country needed capital at relaxed rates of interest to run their enterprises and cater to the needs of their big brothers as well as contributes substantially to India’s manufacturing and external engagements.