A need for financial inclusion of MSMEs
MSMEs to explore the 59 Minute Loan Sanction portal Ministry of Micro Small and Medium Enterprises (MSME) organized a Regional Conference on MSME Financing under National SC/ST Hub Scheme in New Delhi. Minister of State (I/C) for MSME, Giriraj Singh said in his inaugural address stressed on the need for financial inclusion of small entrepreneurs, without whom the country cannot develop. While appreciating the banking sectors concerns about the Non-Performing Assets and bad debts, he pointed out that where there is need based financing from the banks the recoveries have been more than 99 per cent. He urged the banks to set their priorities in line with the policies and financial guarantees of the Government and provide loans to youth and small entrepreneurs. Talking about the 12 initiatives of the Government for the MSME sector announced by the Prime Minister on 2nd November 2108, Giriraj Singh urged MSMEs to take full advantage of the 59 Minute Loan Sanction po...