RBI Guv to inaugurate MSMEDCI in Vizag; MSMEDCI to help SMEs if banks reject their loan pleas

Visakhapatnam, Feb 19 (KNN) The city based office of Micro, Small and Medium Enterprises Development Corporation of India (MSMEDCI) will be inaugurated by Reserve Bank of India (RBI) Governor Raghuram Rajan on March 4, 2016.

RBI Governor and SIDBI CMD along with other top officials have been invited for the event.

MSMEDCI Chairman B V Rama Rao told this to reporters here.

The MSMEDCI would assist small and medium business enterprises if banks rejected their plea for loan, he added.

Rao pointed that the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana has been launched by the Modi government for development of MSMEs.

He said that under the scheme loan up to 10 lakh would be provided to small-scale industries through 49 banks. (KNN Bureau)