Mumbai, June 18 (KNN) Union MSME Minister Kalraj Mishra has asked the banks to avoid delays in sanctioning of loans to the micro enterprises under the Prime Minister's Employment Guarantee Programme (PMEGP). 
 
"Timely sanction of the projects will result in getting subsidy to the beneficiaries without any hurdle," an official statement quoting Mishra said. 


Mishra took up the issue during a meeting with the bankers, Khadi & Village Board and State Industry Department here on Wednesday. 


He also asked the banks to ensure that maximum benefits of the PMEGP scheme are provided to women, SC/ST and unemployed youth. 


"All efforts should be made so that the scheme should reach the grass root level which will fulfil the dream of 'Make in India' of our Prime Minister," he added. 


Mishra said that some instances have come to the notice that despite clear cut guidelines given by RBI, bankers are insisting to the small beneficiaries for collateral security in case of projects up to Rs 10 lakh. 


He asked the banks to give clear directions to their respective branches to follow the RBI guidelines. (KNN Bureau)