New Delhi, Mar 6 (KNN) Responding to a report about the increased credit flow in the recent times, Integrated Congress of Women Entrepreneurs (ICWE) said that easy credit to the Micro, Small and Medium Enterprises (MSMEs) is still not a reality.

Talking to KNN, Sushma Joiya Pandit, Chairperson of Integrated Congress of Women Entrepreneurs (ICWE) said that there have been a lot of cases in which an aspiring entrepreneur have been rejected and their credit request haven’t been sanctioned.

“Most of times, the banks reject the cases simply by saying that the project is not viable or they say that their target is completed”, she said.

Informing of the long and sincere process that the aspiring entrepreneur goes through, Sushma said that prospective entrepreneurs through her association are motivated for setting up their units.

ICWE imparts proper training and makes sure to prepare project profiles, to provide technical guidance.

Every thing is done under the guidance of the Ministry to promote entrepreneurship. The beneficiaries after being motivated are provided with product oriented training to manufacture a particular item as well as to promote business and service industry.

After training a detailed project report is drafted in consultation with Chartered Accountant and the project is submitted to respective General Manager District Trade and Industries Centers. All such applications with required documents are placed before the Task Force Committee headed by the District Collector.

The task force Committee is convened by General Manager District Industries office. The prospective entrepreneurs are interviewed by the Task Force Committee and the cases are recommended to different Banks for financial assistance.

Despite the long sincere approach, banks are not open to the entrepreneurs, she said.

“It is needless to mention that the beneficiary spends lot of money in the form of Consultancy to Chartered Accountant, making photocopies and allied expenses the banks neglect these applicants that can be potential leaders of tomorrow”.

Sushma shared over 34 cases in which the aspiring entrepreneurs despite documentation and training were not sanctioned loans.

“Such behaviour of Banks will ruin the Industrial Development Projects of Government”, she added. (KNN/DA)