New Delhi, Dec 18 (KNN) Voicing concern for credit to the Micro, Small and Medium Enterprises (MSME) sector in the country, Finance Minister Arun Jaitley has urged banks to open dedicated MSME intensive outlets and branches, a news agency reported.

Jaitley said that for the overall growth of the economy, it is imperative to ensure credit to the small businesses, and the banks have to play a intensive role for the same.

Highlighting the significance of the MSME sector in the country, Jaitley said that the sector generates the maximum share of employment in the country.

Apart from it being integral towards employment generation, the sector contributes over 40 per cent to the gross manufacturing in the country.

The decision comes in the backdrop of the ‘PSB Manthan’ event organised by the finance ministry earlier last month.

Over 50 clusters have been identified for enhanced access to financing, also the revamped udyamimitra.in portal is another initiative in the line.

Earlier Finance minister Jaitley in October announced Rs 2.11 lakh crore plan to strengthen public sector banks that are struggling with non-performing assets (NPAs) and bad loans.

Following the announcement Jaitley said that the state banks are to play major role in the financial system in order to facilitate push to the job-creating MSME sector. (KNN/DA)